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will establish a branch in early July on the groundc floor of an offices tower inside the 610 Loop nearPost Oak. Spacer City was chartered in 1965 to serve employeee of oil and gas industry equipmentmanufacturer LLC. The crediyt union shifted around several downtown location s with the company before moving to its currenr headquarters on Harrisburg Boulevardin 1999. Craig Space City president and CEO, says the credit unio had been looking to open another office for several but waited to find the right Rohden notes that Space City alreadgyserves Houston-area employees of General Electric Co., and the new branchg at 1233 West Loop Southu is also home to , making the move a logica l fit.
The credit union also has a small two-persoh office inside a GE Energy plant on the Houston Ship Channeo that serves morethan 1,000 employees on site. GE in fact, was once owned by Stewart Stevenson. Space City received regulatory approvalp fora “community” charter in allowing the credit union to serve any customer within 10 miles of its headquarters. In addition, the crediy union is tied in to a network of about 70 other rivapl credit union branches in the region so customers can accesds accounts atany location.
The community chartert will apply to thenew branch, which was anothetr factor in choosing the West Loop Rohden notes about 1,200 people are employed in the two mirror-image officer towerd owned by Dallas-based The new branch will include two drive-throughg lanes and an ATM, with an ATM to be installed in the adjacenft tower at 1333 West Loop South, Rohden “We’ll be marketing to tenants in both buildingsd and the general public aroundf the Galleria area within the perimeteer of the branch,” he says. “Our community chartefr pretty much covers everything inside Beltwa 8to downtown.
” A spate of start-ul banks and other regional players have openede for business in Houstom this year looking to grab small busineszs customers away from the biggerr banks. Still, Rohden says Space City’s decisioj to expand had nothing to do with the shiftinb tide within the overalp financialservices industries, considering the credit union markets to not business customers. Unlike banks, creditt unions are owned by theircustomers — rathefr than outside shareholders — and in essence operate as not-for-profigt entities. Any profits are folded back intoequityt capital.
Dan Bass, managing director with investment bankers, agrees that credir unions like SpaceCity won’t have much impact on small communitu banks, but are targeting retail customers that migh t be willing to switch from big national “Like the bigger banks, credit unions are trying to get retaik traffic through the door, and are focusingh on finding the rightt location. They have low costs so it maked a lot of sense for them todo that,” Bass Space City, which has 18 now represents 5,326 members in 25 statese after widening its reach in the 1980s.
The creditf union has more than 70 custometr companies inthe region, with about 75 percengt of its membership in the Houston The credit union had two employees and assets of about $4 millio when Rohden came on board in 1994. Filing s with the , whicy oversees the industry, show how Space City currently stack up in thefinancial sector. • The credirt union had outstanding loansof $19 millionj and deposits of just undet $23 million in the first with net income of $18,753 after postin g a loss of $335,376 in the fourtuh quarter of 2008.
Friday, August 10, 2012
Thursday, August 9, 2012
The Wisconsin Tragedy: What the Gunman's Neighbor Saw - TIME
oryucyjofec1482.blogspot.com
TIME | The Wisconsin Tragedy: What the Gunman's Neighbor Saw TIME Her new neighbor showed up with his belongings packed into two large garbage bags. His name was Wade Michael Page. Last weekend, Page left a path of destruction at the sprawling Sikh temple â€" or gurdwara â€" in the Milwaukee suburb, leaving six ... |
Tuesday, August 7, 2012
Bromptons at Cherrydale will deliver or be torn down - Washington Business Journal:
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Either way, Ed Peete will be shellinbg outbig bucks. He is owner of the mixec townhouse-condominium and retail at the corner of North Quincyu Street andLee Highway. On Tuesday the approved an agreement withPeete -- head of the development firm -- that require s him to repair and finish the buildinf within the next year or he will have to pay for its Because of engineering flaws, like beams and walla showing signs of stress and bending, the county issued a stop-work order on the buildingy in 2006.
A developer in the Washington regionsince 1987, Peete jumpecd into the condo market in 2002 and starterd five projects -- the Zoso, Bromptond at Cherrydale, the Bromptonzs II at Monument Place, the Joule and Io Piazzza in Shirlington. The single-family homes and townhousea that were part of the Bromptons at Cherrydales projectwere finished, but the mixed-uss building was not and currently servex as a vacant, skeletal eyesore. After settling lawsuitsx against its engineerslast year, Peete has gone back and forthy in deciding whether to fix the Bromptons at Cherrydals or topple it and stary over.
Under the county’s settlement agreement, he will have a shorrt time frame to decide whatto do, Under the agreement, Peetr will bring the site plan up to code and proceed with repaifr and redesign by a certain deadline, or the county will have the greebn light to raze the building. Peete will pay for the demolitiomn process if he chooses to start fromscratcbh -- or to clear the site if the buildingb is not finished on time next He will set aside $250,000 to covere a demolition process, if needed.
Accordingb to Stephen MacIsaac, county attorney, bulldozerss will not be necessary if all phases of the projecft are completed over the next Peete plans to keep in place the existing said MacIsaac, and start on some exterior-type repairse next month like putting in the curbs, gutters and trees and proceee with internal structural repairs for walls and The finished building is expected to consisf of condos and ground-floorr retail.
Either way, Ed Peete will be shellinbg outbig bucks. He is owner of the mixec townhouse-condominium and retail at the corner of North Quincyu Street andLee Highway. On Tuesday the approved an agreement withPeete -- head of the development firm -- that require s him to repair and finish the buildinf within the next year or he will have to pay for its Because of engineering flaws, like beams and walla showing signs of stress and bending, the county issued a stop-work order on the buildingy in 2006.
A developer in the Washington regionsince 1987, Peete jumpecd into the condo market in 2002 and starterd five projects -- the Zoso, Bromptond at Cherrydale, the Bromptonzs II at Monument Place, the Joule and Io Piazzza in Shirlington. The single-family homes and townhousea that were part of the Bromptons at Cherrydales projectwere finished, but the mixed-uss building was not and currently servex as a vacant, skeletal eyesore. After settling lawsuitsx against its engineerslast year, Peete has gone back and forthy in deciding whether to fix the Bromptons at Cherrydals or topple it and stary over.
Under the county’s settlement agreement, he will have a shorrt time frame to decide whatto do, Under the agreement, Peetr will bring the site plan up to code and proceed with repaifr and redesign by a certain deadline, or the county will have the greebn light to raze the building. Peete will pay for the demolitiomn process if he chooses to start fromscratcbh -- or to clear the site if the buildingb is not finished on time next He will set aside $250,000 to covere a demolition process, if needed.
Accordingb to Stephen MacIsaac, county attorney, bulldozerss will not be necessary if all phases of the projecft are completed over the next Peete plans to keep in place the existing said MacIsaac, and start on some exterior-type repairse next month like putting in the curbs, gutters and trees and proceee with internal structural repairs for walls and The finished building is expected to consisf of condos and ground-floorr retail.
Monday, August 6, 2012
Open Road Media Forms Digital Publishing Partnership With BlogHer ... - MarketWatch (press release)
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Open Road Media Forms Digital Publishing Partnership With BlogHer ... MarketWatch (press release) BlogHer joins Open Road's Publishing Partners program, which includes eBooks featuring content from ProPublica, Esquire, Cosmopolitan and Seventeen. A committee chose the 110 honorees from 1687 submissions in the categories Heart, Humor, Identity, ... |
Nine tips for taming text in Pages Macworld Every paragraph with that style is updated with the new formatting. Character formatting is similarâ€"just be sure you've highlighted the formatted text before Control-clicking the style name in the Styles Drawer. Defining a new style from scratch is ... |
Friday, August 3, 2012
Dan Snyder stays at Six Flags under reorganization - Baltimore Business Journal:
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Six Flags is also seeking a $600 million secured by its assets, and $150 millioh in a new revolvingcredit line. The company’zs executive retention plan would keep Snydefr as board memberand chairman. Mark Shapiro, currently chief executive, as well as chiec financial officer Jeffrey Speed and severakl other top management would also stay on in executive Six Flags, which announced its Chaptere 11 bankruptcy filing over the weekend, listed $2.4 billion in debt and $3 billioj in assets. It hopes to cut debt by $1.8 billiomn and wipe out more than $300 million in preferrerd stock.
Snyder and his management who took control of the theme park operator three and a halfyears ago, have not been able to return the company to profitability, despite increasing attendance and sellinf several parks to raise capital last year. The companyu reported a $146 million first quartef loss. Six Flags has said its reorganizatiojn will not affect park operations and its vendors and employeesx will continue tobe paid. Six Flags 20 theme parks includein Largo.
Six Flags is also seeking a $600 million secured by its assets, and $150 millioh in a new revolvingcredit line. The company’zs executive retention plan would keep Snydefr as board memberand chairman. Mark Shapiro, currently chief executive, as well as chiec financial officer Jeffrey Speed and severakl other top management would also stay on in executive Six Flags, which announced its Chaptere 11 bankruptcy filing over the weekend, listed $2.4 billion in debt and $3 billioj in assets. It hopes to cut debt by $1.8 billiomn and wipe out more than $300 million in preferrerd stock.
Snyder and his management who took control of the theme park operator three and a halfyears ago, have not been able to return the company to profitability, despite increasing attendance and sellinf several parks to raise capital last year. The companyu reported a $146 million first quartef loss. Six Flags has said its reorganizatiojn will not affect park operations and its vendors and employeesx will continue tobe paid. Six Flags 20 theme parks includein Largo.
Thursday, August 2, 2012
Hurricane could devastate shaky real estate market - Orlando Business Journal:
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But a far larger threa t looms with the start of hurricane seasohnext week. The nightmar e scenario is a major storm that sweeps across a region pocked with forecloserreal estate, leaving the neglected property in empty of responsible homeowners. Nobody knows how big the problejmight be, but with hundreds of thousands of empty propertiesz in the state, it couldx be huge. Banks holding foreclosed real estated and defaulted loans said they have plansa in place to move in with boards and tarps to coverr broken windows andshredded roofs. But real estater experts said nobody has ever gone througb a storm with so much empty property hanginv inthe balance.
“Florida is livinb with a huge saidJack McCabe, president of in Deerfield “There are 400,000 foreclosures in the state righr now. We have condominiums that are half-built and otherz that are 10 [percent] or 20 percentt occupied. All you have to do is look at New Orleanz after Hurricane Katrina to imagine whatmight happen.” After Katrina struck New Orleans in huge swaths of the city were destroyed when leveee broke and water inundated the city.
Large areazs are still only thinly Florida’s real estate market differs fromNew Orleans, but its large number of empty dwellings and the risingh tide of foreclosures poses a unique According to the , 21,900 of Orangw County’s 491,000 dwellings were empty for more than three months in Statewide, 365,000 of 9.1 millionn homes were vacant. Estimating the valure of that property is nearly since it’s a mixture of foreclosed homes, never-sold dwellings and simplyt unoccupied real estate. This bad dream is filled with Larger banks typically have departments that manage foreclosed property and have contracts withmaintenance companies.
Their main financiapl motive is keeping property in good repairr so it can be resold for a reasonable But real estate prices have fallen so low in many market that the cost of repairing a heavily damaged housew might be greater than itsresale value. And if emergencg repairs aren’t undertaken rightt after a storm, the subsequent damage from wind, rain and mold couldc add substantially to therehabilitation cost. Althougg banks have plans for dealingy withnatural disasters, few are well-equippesd to respond to a devastating storm. “The lenders have cut way back ontheirr staffs,” McCabe said.
“Anybody who thinks they have the abilityy to meet with insurance companied and go out to houses to assess damages isdeludint themselves.” The problem is compounded by the sheer number of Some mortgage brokers and banks that hold loans in Florida don’t have offices here — or have dire financiapl problems of their own. “Most banks don’t have people familiar with these sorts of saidPeter Brennan, vice president of J. Rolfe Davis, an Orlandp insurance agency. “Most bankers don’t know what to do when a roof gets blownb offa house.
” However, Fifth Thirf Bank, Central Florida’s 12th-largest lender, has retained two property maintenance firms to inspect and repaidr its property. The bank has fewer than 300 foreclosesd Florida properties onits books. “Oncs an asset becomes ours and is we do anything we can to preservdthe property. If we suspect from a leaky pipe to aleaky roof, we fix said Michele McCoy, Fifth Third’sx vice president for default servicing. Orange County Property Appraise r Bill Donegan said there areabout 3,6090 foreclosed properties worth about $522 milliobn in Orange County, and of those, 1,209 have been resold.
“My assumption is the banks and managemenrt companies would swoop in aftere a hurricane andmake repairs,” Donegan Most banks also insure foreclosed properties. “I don’t think there’s a majorf issue related to insurance coverage,” said Tom TerBeck, senio r credit officer with . I wouldn’t say everybody in the industryu is ready fora hurricane.” Years of disrepair ahead?? Ken Direktor, a real estate attorney with the law firm, said anyonr who thinks a hurricane in an urba n part of Florida would play out like past hurricanes is “Banks are delaying foreclosures on properties becauswe they don’t want to be responsibl for them.
”
But a far larger threa t looms with the start of hurricane seasohnext week. The nightmar e scenario is a major storm that sweeps across a region pocked with forecloserreal estate, leaving the neglected property in empty of responsible homeowners. Nobody knows how big the problejmight be, but with hundreds of thousands of empty propertiesz in the state, it couldx be huge. Banks holding foreclosed real estated and defaulted loans said they have plansa in place to move in with boards and tarps to coverr broken windows andshredded roofs. But real estater experts said nobody has ever gone througb a storm with so much empty property hanginv inthe balance.
“Florida is livinb with a huge saidJack McCabe, president of in Deerfield “There are 400,000 foreclosures in the state righr now. We have condominiums that are half-built and otherz that are 10 [percent] or 20 percentt occupied. All you have to do is look at New Orleanz after Hurricane Katrina to imagine whatmight happen.” After Katrina struck New Orleans in huge swaths of the city were destroyed when leveee broke and water inundated the city.
Large areazs are still only thinly Florida’s real estate market differs fromNew Orleans, but its large number of empty dwellings and the risingh tide of foreclosures poses a unique According to the , 21,900 of Orangw County’s 491,000 dwellings were empty for more than three months in Statewide, 365,000 of 9.1 millionn homes were vacant. Estimating the valure of that property is nearly since it’s a mixture of foreclosed homes, never-sold dwellings and simplyt unoccupied real estate. This bad dream is filled with Larger banks typically have departments that manage foreclosed property and have contracts withmaintenance companies.
Their main financiapl motive is keeping property in good repairr so it can be resold for a reasonable But real estate prices have fallen so low in many market that the cost of repairing a heavily damaged housew might be greater than itsresale value. And if emergencg repairs aren’t undertaken rightt after a storm, the subsequent damage from wind, rain and mold couldc add substantially to therehabilitation cost. Althougg banks have plans for dealingy withnatural disasters, few are well-equippesd to respond to a devastating storm. “The lenders have cut way back ontheirr staffs,” McCabe said.
“Anybody who thinks they have the abilityy to meet with insurance companied and go out to houses to assess damages isdeludint themselves.” The problem is compounded by the sheer number of Some mortgage brokers and banks that hold loans in Florida don’t have offices here — or have dire financiapl problems of their own. “Most banks don’t have people familiar with these sorts of saidPeter Brennan, vice president of J. Rolfe Davis, an Orlandp insurance agency. “Most bankers don’t know what to do when a roof gets blownb offa house.
” However, Fifth Thirf Bank, Central Florida’s 12th-largest lender, has retained two property maintenance firms to inspect and repaidr its property. The bank has fewer than 300 foreclosesd Florida properties onits books. “Oncs an asset becomes ours and is we do anything we can to preservdthe property. If we suspect from a leaky pipe to aleaky roof, we fix said Michele McCoy, Fifth Third’sx vice president for default servicing. Orange County Property Appraise r Bill Donegan said there areabout 3,6090 foreclosed properties worth about $522 milliobn in Orange County, and of those, 1,209 have been resold.
“My assumption is the banks and managemenrt companies would swoop in aftere a hurricane andmake repairs,” Donegan Most banks also insure foreclosed properties. “I don’t think there’s a majorf issue related to insurance coverage,” said Tom TerBeck, senio r credit officer with . I wouldn’t say everybody in the industryu is ready fora hurricane.” Years of disrepair ahead?? Ken Direktor, a real estate attorney with the law firm, said anyonr who thinks a hurricane in an urba n part of Florida would play out like past hurricanes is “Banks are delaying foreclosures on properties becauswe they don’t want to be responsibl for them.
”
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