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Wednesday, July 27, 2011
Monday, July 25, 2011
Villa Muse puts final nail in city of Austin negotiations - Atlanta Business Chronicle:
shemwellmygalej1291.blogspot.com
The Villa Muse project is planned to hold production film studiosand homes. The project' executives had requested a temporary release ofabouty 2,000 acres from the city of Austin's extraq territorial jurisdiction. "Within the structurde of building outsidethe ETJ, our investorx would be able to have the assurances of being repai their investment," says Jerry Converse, Villa Muse'sd attorney at Fulbright & Jaworski LLP. "The would have traditional and standard vehicles by which to do The city of Austin rejected thatproposal [and] made an alternatre proposal to Villa Muse that injected risk into it that was unacceptabls to our client.
The Villa Muse investorz simply have to have some reliability inbeinb repaid." Gary Kimball, a local senior vice president with investmentt banking company First Southwest Co., says Austin's proposao for the project to use a public infrastructurde district wouldn't have increasedc the cost of buildinvg Villa Muse but would have meant a 25 percenrt higher tax on its future residents. Converse says he doesn't know if Villaq Muse is giving up its option on the East Austijn landit had.
Neither Converse nor Kimbalo would speak to wheres else Villa Muse officials are but reiterated Villa Muse CEOJay Podolnick'ws message that the project is committes to breaking ground somewhere in Texas this
The Villa Muse project is planned to hold production film studiosand homes. The project' executives had requested a temporary release ofabouty 2,000 acres from the city of Austin's extraq territorial jurisdiction. "Within the structurde of building outsidethe ETJ, our investorx would be able to have the assurances of being repai their investment," says Jerry Converse, Villa Muse'sd attorney at Fulbright & Jaworski LLP. "The would have traditional and standard vehicles by which to do The city of Austin rejected thatproposal [and] made an alternatre proposal to Villa Muse that injected risk into it that was unacceptabls to our client.
The Villa Muse investorz simply have to have some reliability inbeinb repaid." Gary Kimball, a local senior vice president with investmentt banking company First Southwest Co., says Austin's proposao for the project to use a public infrastructurde district wouldn't have increasedc the cost of buildinvg Villa Muse but would have meant a 25 percenrt higher tax on its future residents. Converse says he doesn't know if Villaq Muse is giving up its option on the East Austijn landit had.
Neither Converse nor Kimbalo would speak to wheres else Villa Muse officials are but reiterated Villa Muse CEOJay Podolnick'ws message that the project is committes to breaking ground somewhere in Texas this
Friday, July 22, 2011
Orinda, Octagon plan loft/retail conversion - Austin Business Journal:
tenamup.wordpress.com
Atlanta-based and Charlotteville, Va.-based reported theird plans for the propertty at 222Mitchell Street, but they did not disclosde financial terms of the deal. The 350,000-square-foot structurs was built in stages from 1929 to 1979on 2.1 acres and occupiess the entire city block bounded by Spring, Mitchell and Nelson Streets. Orindz and Octagon will convert the property into a rental building with 205 loft unitsw and morethan 70,000 squar feet of commercial space. Occupancy is expected in January 2011.
“The redevelopment of 222 Mitchell Street into renta lofts and retail space will play a significant role in the rebirth of this part ofdowntownb Atlanta,” said Dillon Baynes, president of Orinda, in a “We’re certain that living at 222 Mitchell Street will appeal to young professionals who work as well as to college students, especiallhy those who already attend one of the many fine institutions in the area, such as Georgia Stater University, Spelman, Morehouse, Clark Atlanta University and Georgia Tech.
”
Atlanta-based and Charlotteville, Va.-based reported theird plans for the propertty at 222Mitchell Street, but they did not disclosde financial terms of the deal. The 350,000-square-foot structurs was built in stages from 1929 to 1979on 2.1 acres and occupiess the entire city block bounded by Spring, Mitchell and Nelson Streets. Orindz and Octagon will convert the property into a rental building with 205 loft unitsw and morethan 70,000 squar feet of commercial space. Occupancy is expected in January 2011.
“The redevelopment of 222 Mitchell Street into renta lofts and retail space will play a significant role in the rebirth of this part ofdowntownb Atlanta,” said Dillon Baynes, president of Orinda, in a “We’re certain that living at 222 Mitchell Street will appeal to young professionals who work as well as to college students, especiallhy those who already attend one of the many fine institutions in the area, such as Georgia Stater University, Spelman, Morehouse, Clark Atlanta University and Georgia Tech.
”
Wednesday, July 20, 2011
Philadelphia Business Journal: Nomination
http://www.rvp1875.com/index.php/articles/ames-tribune
After you nominate a company (your own, a etc), you will be notified by the last week in July with instructionzs for thenominated company'se employees to complete the online survey. Employeee will have from July 27 - August 25, 2009 to The results will be tabulated by QuantuMarket Research, and surveyed scoresw will determine this year's finalists and All participants will be notifiedc of their status during the second week in September. Finalistsd from each category are invited to attendf an exclusive cocktail awards reception on October 15 and will be featuree in a special supplement in the October 16 edition of theBusiness Journal.
Winners will be announcecd from each of thefollowinvg categories: Companies headquartered elsewhere that have 50 or more employees and a local HR persoh in the Philadelphia region. Only local employees are eligible to responrd tothe survey. You will be classified in the appropriatew category based on yourcompany size. This programn is proudly sponsored by: Delaware Valley Regional Planning Commissiobn and Sb1 Federal Credit Any questions, call Jennifed Wolf at 215.238.5106 Best Places to Work Deadline: July 16, 2009 State) i.e. medical, dental, 401K, tuition, reimbursement, etc.
After you nominate a company (your own, a etc), you will be notified by the last week in July with instructionzs for thenominated company'se employees to complete the online survey. Employeee will have from July 27 - August 25, 2009 to The results will be tabulated by QuantuMarket Research, and surveyed scoresw will determine this year's finalists and All participants will be notifiedc of their status during the second week in September. Finalistsd from each category are invited to attendf an exclusive cocktail awards reception on October 15 and will be featuree in a special supplement in the October 16 edition of theBusiness Journal.
Winners will be announcecd from each of thefollowinvg categories: Companies headquartered elsewhere that have 50 or more employees and a local HR persoh in the Philadelphia region. Only local employees are eligible to responrd tothe survey. You will be classified in the appropriatew category based on yourcompany size. This programn is proudly sponsored by: Delaware Valley Regional Planning Commissiobn and Sb1 Federal Credit Any questions, call Jennifed Wolf at 215.238.5106 Best Places to Work Deadline: July 16, 2009 State) i.e. medical, dental, 401K, tuition, reimbursement, etc.
Monday, July 18, 2011
Two more leave BofA board - Triangle Business Journal:
ucojaje.wordpress.com
According to a filing with the Securitiew andExchange Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchelk resigned early this month. Mitchell is a forme r New York television executive and currently servee as chief executive of the Pale Centerfor Media, a New York Ward is the retired chief executive of Atlanta-basesd Computer Generation Inc., a software company. Robery Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resignef from the BofA boare effectiveMay 29. And on May 29, the bank announcesd former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directord for13 years. In early June, four outside directoras were electedto BofA’s board. They are formert Federal Reserve GovernorSusan Bies, former Compass Bancsharesd Inc. chief executive and chairmab D. Paul Jones, former Federal Deposit Insuranc Corp. chairman Donald Powell and retirerd BankOne Corp. and Visa Internationa l Inc. executive William BofA’s board has been undedr intense scrutiny in recent month s as the bank suffered through asharp stock-price decline after acquiring Merrill Lynch Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billion in taxpayerf aid. At the bank’s annuao meeting in late April, shareholders votef to strip Chief Executive Kenneth Lewis of his position as board Walter Massey was installed as the new chairmabn and has indicated the board needs to be Lewis remainsthe bank’s CEO and president.
According to a filing with the Securitiew andExchange Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchelk resigned early this month. Mitchell is a forme r New York television executive and currently servee as chief executive of the Pale Centerfor Media, a New York Ward is the retired chief executive of Atlanta-basesd Computer Generation Inc., a software company. Robery Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resignef from the BofA boare effectiveMay 29. And on May 29, the bank announcesd former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directord for13 years. In early June, four outside directoras were electedto BofA’s board. They are formert Federal Reserve GovernorSusan Bies, former Compass Bancsharesd Inc. chief executive and chairmab D. Paul Jones, former Federal Deposit Insuranc Corp. chairman Donald Powell and retirerd BankOne Corp. and Visa Internationa l Inc. executive William BofA’s board has been undedr intense scrutiny in recent month s as the bank suffered through asharp stock-price decline after acquiring Merrill Lynch Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billion in taxpayerf aid. At the bank’s annuao meeting in late April, shareholders votef to strip Chief Executive Kenneth Lewis of his position as board Walter Massey was installed as the new chairmabn and has indicated the board needs to be Lewis remainsthe bank’s CEO and president.
Saturday, July 16, 2011
Dow Jones CEO resigns amid scandal - Washington Post
vorotintseyqah.blogspot.com
Dow Jones CEO resigns amid scandal Washington Post If your comments or those of another user measure up, please let Post editors know. Fact Checkers contribute questions, information and facts to The Fact Checker. If your comments or those of another user measure up, please let Post editors know. ... |
Wednesday, July 13, 2011
More funds available for SBA loans - Sacramento Business Journal:
ovaluleq.wordpress.com
The timing of the thaw worked well forSteve Barber, who is runninhg out of room at his . He just got an SBA 504 loan to buy a historic garage building in downtown Sacramento to free up space in the automotivee repairshop he’s been leasing for 30 Barber’s Shop Automotive will continue repairingt Alfa Romeo, , and other make at 1116 18th St., and will open a second business in the additional building at 16th and G streetd that will sell high-end scooters and do restoration work on classicx scooters, motorcycles, cars and even boat motors. “I’jm going to the new buildinh for all the things wedo — but don’g have room for — Barber said.
The 16th Street building, is actually a garaged built in 1927 that spansabougt 6,000 square feet inside. That will allow Barber to storwesome high-end cars, as well as take on long-term restoratio n projects on everything from classi sports cars to wooden Barber likes restoring classic machines, and he’zs also taking an interest in restoringb the classic building. “It’s always been a repairt shop. I like that I can keep that goin inthe building,” he said. Barber used the SBA loan to buy the building and do some required repairs insideand out.
The SBA programn made the purchase possiblse because it stretches the mortgage on a real estatw loan to20 years, significantly lowering monthlg payments. The SBA guarantees some portions of an SBA which historically has made them attractivew to investors in secondary Those markets suffered along with the entirr financial system following the collapse of Wall Street firmslast year. When the likes of investmentf bank stalwarts such as and confidence in the market and even efficient secondary markets like thosefor SBA-related commercial papefr — were priced so high that in effect, was stopped.
That halt in secondary market trading meant that any lender whose strategy in the past six monthsw was to sell loans had no placed tosell them. The bond side of SBA 504 lendinygalso stalled. In the past month, SBA-relatee products are finally priced to sell in thesecondarg market. “Pricing has come back to levels where trading is saidTony Wilkinson, president of the in Stillwater, an advocacy and trade group for SBA 7(a) lenders. “When the secondargy markets werelocked up, it did preventf lending,” he said. “It is finallu now getting back to almosthistorical pricing.
” The SBA’a two most popular programs are the SBA 504 real estatee loan, which must be used to buy buildings or land, and the SBA 7(a) which can be used for general businesx purposes, inventory and real Loans approved by the SBA carry a governmenf guarantee that at least some portion of the loan will be The guarantee ranges from 50 percent to 100 depending on the type of loan. For a couples of decades there has been an active secondaryy market forSBA loans, both the guaranteed and the unguaranteed That secondary market is important for some lenders becaus e it means they can sell SBA and thereby retain their own capital to go out and make more And in the realm of 504 there is a bondinf component that makes up half of the At the height of the credit crunch, that bonding markeyt was constrained because the banks that were previousluy in the market for those investmentds were unable to buy them because they were worriesd about their own capital positions.
The return of confidencee to secondary markets has meant the returbn of themarket itself. At the end of last year and the earlyh part ofthis year, all kinds of lendingh were “locked up,” said Brian Kerfoot, senior commercial lending officer with ’s office in The values of commercial real estate have declined in most of the locak market, making the cost of a long-term SBA loan compar favorably to the terms of a lease, Kerfoot “It’s a good time to look for a building, and a lot of peoplee are starting to look right now.
We’rw getting a lot of people pre-qualifyinfg right now, so I expect a lot of deal s in the nextthree months,” he As it turns out, the timing of the secondary marketas freeze ended up working well for Barber. He had been looking for anotherr building ayear ago, and with the pricesw then, he couldn’t make it work. Sincw commercial real estate priceshave fallen, he was able to find a deal that made
The timing of the thaw worked well forSteve Barber, who is runninhg out of room at his . He just got an SBA 504 loan to buy a historic garage building in downtown Sacramento to free up space in the automotivee repairshop he’s been leasing for 30 Barber’s Shop Automotive will continue repairingt Alfa Romeo, , and other make at 1116 18th St., and will open a second business in the additional building at 16th and G streetd that will sell high-end scooters and do restoration work on classicx scooters, motorcycles, cars and even boat motors. “I’jm going to the new buildinh for all the things wedo — but don’g have room for — Barber said.
The 16th Street building, is actually a garaged built in 1927 that spansabougt 6,000 square feet inside. That will allow Barber to storwesome high-end cars, as well as take on long-term restoratio n projects on everything from classi sports cars to wooden Barber likes restoring classic machines, and he’zs also taking an interest in restoringb the classic building. “It’s always been a repairt shop. I like that I can keep that goin inthe building,” he said. Barber used the SBA loan to buy the building and do some required repairs insideand out.
The SBA programn made the purchase possiblse because it stretches the mortgage on a real estatw loan to20 years, significantly lowering monthlg payments. The SBA guarantees some portions of an SBA which historically has made them attractivew to investors in secondary Those markets suffered along with the entirr financial system following the collapse of Wall Street firmslast year. When the likes of investmentf bank stalwarts such as and confidence in the market and even efficient secondary markets like thosefor SBA-related commercial papefr — were priced so high that in effect, was stopped.
That halt in secondary market trading meant that any lender whose strategy in the past six monthsw was to sell loans had no placed tosell them. The bond side of SBA 504 lendinygalso stalled. In the past month, SBA-relatee products are finally priced to sell in thesecondarg market. “Pricing has come back to levels where trading is saidTony Wilkinson, president of the in Stillwater, an advocacy and trade group for SBA 7(a) lenders. “When the secondargy markets werelocked up, it did preventf lending,” he said. “It is finallu now getting back to almosthistorical pricing.
” The SBA’a two most popular programs are the SBA 504 real estatee loan, which must be used to buy buildings or land, and the SBA 7(a) which can be used for general businesx purposes, inventory and real Loans approved by the SBA carry a governmenf guarantee that at least some portion of the loan will be The guarantee ranges from 50 percent to 100 depending on the type of loan. For a couples of decades there has been an active secondaryy market forSBA loans, both the guaranteed and the unguaranteed That secondary market is important for some lenders becaus e it means they can sell SBA and thereby retain their own capital to go out and make more And in the realm of 504 there is a bondinf component that makes up half of the At the height of the credit crunch, that bonding markeyt was constrained because the banks that were previousluy in the market for those investmentds were unable to buy them because they were worriesd about their own capital positions.
The return of confidencee to secondary markets has meant the returbn of themarket itself. At the end of last year and the earlyh part ofthis year, all kinds of lendingh were “locked up,” said Brian Kerfoot, senior commercial lending officer with ’s office in The values of commercial real estate have declined in most of the locak market, making the cost of a long-term SBA loan compar favorably to the terms of a lease, Kerfoot “It’s a good time to look for a building, and a lot of peoplee are starting to look right now.
We’rw getting a lot of people pre-qualifyinfg right now, so I expect a lot of deal s in the nextthree months,” he As it turns out, the timing of the secondary marketas freeze ended up working well for Barber. He had been looking for anotherr building ayear ago, and with the pricesw then, he couldn’t make it work. Sincw commercial real estate priceshave fallen, he was able to find a deal that made
Monday, July 11, 2011
Kendall
disadvantage-unlimited.blogspot.com
million foreclosure lawsuit against the developer of theRivendelll single-family home project in West Kendall. The Miami-based bank filedx the foreclosure action on June 9against Miami-baserd Crestview II, Marsol One LLC and managing member Marciao Solis, according to records. The complaint targetsd 28 unsold homes and home siteein Rivendell, which is along Miller Drivee (Southwest 56th Street) between Southwest 167th Avenue and the Miccosukewe Golf and Country After starting construction in 2004, Crestview II sold 103 homees in Rivendell from 2005 through the most receny sale in January. Fort Lauderdale-basedx attorney Charles Lichtman, who representxs TotalBank in its demandfor $12.
2 milliojn on the outstanding mortgage, did not immediately returnn a call seeking TotalBank reported having $86.4 million in late or unpaicd loans, or nearly 6.5 percent of its totapl loans, as of Marc h 31. In March, filed a foreclosurer action against Crestview II and Solis overa $2.1 milliohn mortgage.
million foreclosure lawsuit against the developer of theRivendelll single-family home project in West Kendall. The Miami-based bank filedx the foreclosure action on June 9against Miami-baserd Crestview II, Marsol One LLC and managing member Marciao Solis, according to records. The complaint targetsd 28 unsold homes and home siteein Rivendell, which is along Miller Drivee (Southwest 56th Street) between Southwest 167th Avenue and the Miccosukewe Golf and Country After starting construction in 2004, Crestview II sold 103 homees in Rivendell from 2005 through the most receny sale in January. Fort Lauderdale-basedx attorney Charles Lichtman, who representxs TotalBank in its demandfor $12.
2 milliojn on the outstanding mortgage, did not immediately returnn a call seeking TotalBank reported having $86.4 million in late or unpaicd loans, or nearly 6.5 percent of its totapl loans, as of Marc h 31. In March, filed a foreclosurer action against Crestview II and Solis overa $2.1 milliohn mortgage.
Saturday, July 9, 2011
An intern week, as told on Twitter - Washington Post (blog)
http://capitalrealestatewa.com/making-money-with-home-loans-is-easy.html
An intern week, as told on Twitter Washington Post (blog) It was a short week in Washington, especially for interns working in offices that shut down on Fridays. News broke right before the holiday that Matthew Edward Lowe â€" the teenage son of actor Rob Lowe â€" will be interning in House ... |
Wednesday, July 6, 2011
GM spares Walser Bloomington store - Wichita Business Journal:
aplecheevlgupy.blogspot.com
Walser Automotive officials got word late Mondayg night from a regional manager for General Motorsw indicating that the dealership had successfully made its caseand doesn’tt need to close, according to Doug director of vehicle operations for the Bloomington-based auto dealer. The dealershil employs about 80 people and is the only GM dealershiin Bloomington. Sprinthall gave a lot of credit to dealership ownersw Paul and Andrew Walser andto Sen. Amy Klobuchafr (D-Minn.) for her help.
Klobucharf helped the Walsers getan hour-and-a-half meeting with General Motors executives last Following that meeting, the Detroit-based automobilw manufacturer took the Bloomingtonn site off its list of about 1,500p dealerships that received termination letterds in the past few weeks, including more than 60 dealerships in the Sprinthall said from what he has heard only about 15 dealershipd nationwide have been able to successfullyu appeal their closures through the forma appeal process GM set up.
Walser Automotive officials got word late Mondayg night from a regional manager for General Motorsw indicating that the dealership had successfully made its caseand doesn’tt need to close, according to Doug director of vehicle operations for the Bloomington-based auto dealer. The dealershil employs about 80 people and is the only GM dealershiin Bloomington. Sprinthall gave a lot of credit to dealership ownersw Paul and Andrew Walser andto Sen. Amy Klobuchafr (D-Minn.) for her help.
Klobucharf helped the Walsers getan hour-and-a-half meeting with General Motors executives last Following that meeting, the Detroit-based automobilw manufacturer took the Bloomingtonn site off its list of about 1,500p dealerships that received termination letterds in the past few weeks, including more than 60 dealerships in the Sprinthall said from what he has heard only about 15 dealershipd nationwide have been able to successfullyu appeal their closures through the forma appeal process GM set up.
Monday, July 4, 2011
Chaired experience - BusinessWorld Online
omagyvoham.wordpress.com
Chaired experience BusinessWorld Online The current term for the head of a committee, event, or organization is simply “chair†dispensing with the need to specify the gender of the person ensconced on the piece of furniture, identifying the occupant by the inanimate object itself in order to ... |
Saturday, July 2, 2011
Human Capital: People on the move, May 26 - Boston Business Journal:
http://taylorpondfarms.com/cuisine-of-the-phillipines.html
, a Billerica-based developer and manufacturer of lighting appointed KeithWard president, CEO and member of the company’se board of directors. Prior to joining Luminus Ward was president and chieft operating officer of EYE Lighting International of NorthAmeric . Patrick named MD at Firemam Capital Liam Patrick was namex managing director of Fireman Capital Partners in Patrick previously worked for private equity firm Rhone Fischer hired as VP of field operations for NorthjAmerica Lexington-based dynaTrace Software Inc. appointed Eric Fischer vice president of field operations forNortg America. Fischer previously served as VP of worldwidre sales for AkorriNetworks , OATSystems Inc.
and eRoo Technology . The law firm of K&Lo Gates LLP added Mark Duggan as of counsekl in itsBoston office. Duggan, who is a membet of the firm’s investment management joins K&L Gates from State Street GlobalAdvisorse , where he servedc as deputy general counsel and senior vice
, a Billerica-based developer and manufacturer of lighting appointed KeithWard president, CEO and member of the company’se board of directors. Prior to joining Luminus Ward was president and chieft operating officer of EYE Lighting International of NorthAmeric . Patrick named MD at Firemam Capital Liam Patrick was namex managing director of Fireman Capital Partners in Patrick previously worked for private equity firm Rhone Fischer hired as VP of field operations for NorthjAmerica Lexington-based dynaTrace Software Inc. appointed Eric Fischer vice president of field operations forNortg America. Fischer previously served as VP of worldwidre sales for AkorriNetworks , OATSystems Inc.
and eRoo Technology . The law firm of K&Lo Gates LLP added Mark Duggan as of counsekl in itsBoston office. Duggan, who is a membet of the firm’s investment management joins K&L Gates from State Street GlobalAdvisorse , where he servedc as deputy general counsel and senior vice
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