Moneycontrol.com | US Politicians Increasingly Voicing Concerns About China Voice of America November 23, 2011 US Politicians Increasingly Voicing Concerns About China William Ide As the United States struggles to revive its lagging economy and looks at security ch » |
Wednesday, November 30, 2011
US Politicians Increasingly Voicing Concerns About China - Voice of America
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Monday, November 28, 2011
Struever Bros. Eccles & Rouse stops work on Baltimore projects - Baltimore Business Journal:
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It’s part of the prolific and nationallyknownj builder’s decision to ride out the recessiojn as a for-fee consultant and contractor and extends to most of its projects from New Englandd to North Carolina, company CEO C. William Struever said. Struever, who pioneered the idea of Baltimore’ s waterfront as a “Digital Harbor” and home for high-techn businesses, said he was forced into the positiobn by mounting debts and the inabilitt to borrow money tofinance projects. Those conditions, he developed more quickly than he expected due to the economicx downturn and nationwidecreditt crunch. Baltimore-based Struever Bros.
has significantl y reduced its work forcre in response tothe shift, and now employs fewer than 100 people. “I’m a joyful, optimistic guy; that’s why I’m in trouble,” Strueve said. “I never would have guessecd how hard it was goinfg to be to get financingy forthose projects.” The company has amassede more than $10 million in debts and loan according to court records, and like competitor s in the downturn, it is havingg trouble raising money to fuel its developments. Across developers have put the brakew on projects for a lack of financing andmarkett demand, including two planned skyscrapers along the Inner Harbor and several residentiao towers.
For Struever Bros., those problemx date back to its inability to raise fundsd for a condominium projecty called the Olmstedin Baltimore’s Charlesw Village neighborhood. From there, the company developedc a plan to raise money by bringing on equity partnera and sellingoff assets. But as the economhy worsened, Struever Bros. found it was unabl to attract new partners. And as the credir markets seized up, it found it couldn’t find buyer s for its properties or lenders to borrow money or refinanc eits debts. Those factorw contributed to Struever Bros.’ decision last month to step down as an equithy partner in State the $1.
4 billion planned redevelopment of a midtown Baltimore statr office complex. It also has reduced its stake ina $1.5 billio Southwest Washington, D.C., waterfront redevelopment and is renegotiating with H&S Propertiees Development Corp. its role in Harborf Point. Harbor Point is a former chromse plant on which Struever workedwith H&S Propertiew for nearly a decade to remake into a 1.8 million-square-footy mixed-use development. The two firms spent more than $3 millio n preparing the site for development and anestimate $22.8 million to build the first structure, a 240,000-square-foort office building to be partially occupied by financialo firm Morgan Stanley.
That buildin is slated for completion in the firsfquarter 2010. Christopher H. Janian, H& S Properties’ assistant development manager, confirmed Struever is seeking a changd from its role as equity partner in the He referred questions about thosed talksto H&S Properties Presidenr Michael S. Beatty, who could not be reached for comment. Janian said H&aS Properties still plans to develop other partx ofHarbor Point, but the project’s next two structures, a 350-uniyt apartment building and a four-star Westin hotel, are on hold for at leastr two more years until the economy improves. Many of Struever Bros.
’ projects involved bringing new businessex and jobs into the communities where they were Those include keeping Legg Mason in Baltimore in a new headquarterx atHarbor East, creating more office spacer at Harbor Point for Morgaj Stanley, and luring Humanimk from Howard County to the Americaj Brewery building in East Baltimore. “They’ve done some wonderful projectsw thatI don’t know anybody else woulc have done; certainly Clipper Mill comes to mind,” said Baltimorre Development Corp. President M.J.
“Jay” Brodie, who has knownm Struever since the 1970s when Struever was a budding contracting firm and Brodiewas Baltimore’s housing “I know they’ve been struggling. I don’ft know what the end result will be. It’s my hope that they survive this very difficult economic situation because I thinkl they can still do some good The move from developmentto fee-based work hasn’yt been without its heartbreak for Struever, regardedr by former employees, colleagues and city officials as a visionarg and leader of urban redevelopment He relished his role taking on thesed projects such as State Center, whichu featured many of the common elements at otheer Struever projects like green building, transit-oriented development, urbahn redevelopment and job retention.
Struever said he expects to complete work on all itsexistinb projects, including the conversion of a forme Overflo storage warehouse in Locust Poinr into new office, retail and showroom space for its marquer Tide Point tenant, Under Armour Inc. But it does not expect to take on anynew projects, as eithed an equity partner or lead and Struever is instead focusing on working with its creditors and payinh down its debts. “I’m getting projects finished andpeoplse paid. Night and day, that’es my No. 1 priority,” Struever said. “I feel in my heargt the obligation to getpeople paid.” It’s not the firstf recession Struever said he has been through.
But he said it is the deepes he’s seen, and he’s hoping his firm can once agaim survive the recession by stepping out of the development businese and focusingon fee-basede work consulting and contracting for developers in better financia standing. In that role, Struever will serve as a consultant to the new Stat Centerdevelopment team. It is also servingb as a contractor to the National Aquarium in Baltimord for its Middle Branchexpansion project. Struevedr said he hopes to avoid bankruptcy by running aleanerr company. “It’s tough times, and there’ds no guarantees,” he said. Through layoffsw or resignations, the ranks of Strueve r Bros.
employees has dwindled from more than 350 employees fewerdthan 100. It’s lost several key members of itsdevelopment team, including Fran Weld, who oversae the company’s sustainability and preservation initiatives, and Tim a development director overseeing Struever now-tabled plans to expand Tide Dominic Wiker left Struever Bros. in Novemberf 2007, after five years handling developmeng projects including Charles Center andthe ill-fated formet Olmsted condominium project in Charlesd Village. Struever Bros. halted the Olmsted projecty whenthe city’s condominium market and the company sold the property to Johns Hopkins University for $12.5 million May 7.
Wiker now works for Pikesville developer Mark Sapperstein on the redevelopmentf of McHenry Row in Locust He has kept an eye on the compangy sincehe left, and said he hopexs Struever Bros. is able to recove r from its financial challenges. “Ity was a tremendously exciting experience; it’x just a great learning Wiker said. “Bill undertook some very challenging projects. They were challenging even in the bestof
It’s part of the prolific and nationallyknownj builder’s decision to ride out the recessiojn as a for-fee consultant and contractor and extends to most of its projects from New Englandd to North Carolina, company CEO C. William Struever said. Struever, who pioneered the idea of Baltimore’ s waterfront as a “Digital Harbor” and home for high-techn businesses, said he was forced into the positiobn by mounting debts and the inabilitt to borrow money tofinance projects. Those conditions, he developed more quickly than he expected due to the economicx downturn and nationwidecreditt crunch. Baltimore-based Struever Bros.
has significantl y reduced its work forcre in response tothe shift, and now employs fewer than 100 people. “I’m a joyful, optimistic guy; that’s why I’m in trouble,” Strueve said. “I never would have guessecd how hard it was goinfg to be to get financingy forthose projects.” The company has amassede more than $10 million in debts and loan according to court records, and like competitor s in the downturn, it is havingg trouble raising money to fuel its developments. Across developers have put the brakew on projects for a lack of financing andmarkett demand, including two planned skyscrapers along the Inner Harbor and several residentiao towers.
For Struever Bros., those problemx date back to its inability to raise fundsd for a condominium projecty called the Olmstedin Baltimore’s Charlesw Village neighborhood. From there, the company developedc a plan to raise money by bringing on equity partnera and sellingoff assets. But as the economhy worsened, Struever Bros. found it was unabl to attract new partners. And as the credir markets seized up, it found it couldn’t find buyer s for its properties or lenders to borrow money or refinanc eits debts. Those factorw contributed to Struever Bros.’ decision last month to step down as an equithy partner in State the $1.
4 billion planned redevelopment of a midtown Baltimore statr office complex. It also has reduced its stake ina $1.5 billio Southwest Washington, D.C., waterfront redevelopment and is renegotiating with H&S Propertiees Development Corp. its role in Harborf Point. Harbor Point is a former chromse plant on which Struever workedwith H&S Propertiew for nearly a decade to remake into a 1.8 million-square-footy mixed-use development. The two firms spent more than $3 millio n preparing the site for development and anestimate $22.8 million to build the first structure, a 240,000-square-foort office building to be partially occupied by financialo firm Morgan Stanley.
That buildin is slated for completion in the firsfquarter 2010. Christopher H. Janian, H& S Properties’ assistant development manager, confirmed Struever is seeking a changd from its role as equity partner in the He referred questions about thosed talksto H&S Properties Presidenr Michael S. Beatty, who could not be reached for comment. Janian said H&aS Properties still plans to develop other partx ofHarbor Point, but the project’s next two structures, a 350-uniyt apartment building and a four-star Westin hotel, are on hold for at leastr two more years until the economy improves. Many of Struever Bros.
’ projects involved bringing new businessex and jobs into the communities where they were Those include keeping Legg Mason in Baltimore in a new headquarterx atHarbor East, creating more office spacer at Harbor Point for Morgaj Stanley, and luring Humanimk from Howard County to the Americaj Brewery building in East Baltimore. “They’ve done some wonderful projectsw thatI don’t know anybody else woulc have done; certainly Clipper Mill comes to mind,” said Baltimorre Development Corp. President M.J.
“Jay” Brodie, who has knownm Struever since the 1970s when Struever was a budding contracting firm and Brodiewas Baltimore’s housing “I know they’ve been struggling. I don’ft know what the end result will be. It’s my hope that they survive this very difficult economic situation because I thinkl they can still do some good The move from developmentto fee-based work hasn’yt been without its heartbreak for Struever, regardedr by former employees, colleagues and city officials as a visionarg and leader of urban redevelopment He relished his role taking on thesed projects such as State Center, whichu featured many of the common elements at otheer Struever projects like green building, transit-oriented development, urbahn redevelopment and job retention.
Struever said he expects to complete work on all itsexistinb projects, including the conversion of a forme Overflo storage warehouse in Locust Poinr into new office, retail and showroom space for its marquer Tide Point tenant, Under Armour Inc. But it does not expect to take on anynew projects, as eithed an equity partner or lead and Struever is instead focusing on working with its creditors and payinh down its debts. “I’m getting projects finished andpeoplse paid. Night and day, that’es my No. 1 priority,” Struever said. “I feel in my heargt the obligation to getpeople paid.” It’s not the firstf recession Struever said he has been through.
But he said it is the deepes he’s seen, and he’s hoping his firm can once agaim survive the recession by stepping out of the development businese and focusingon fee-basede work consulting and contracting for developers in better financia standing. In that role, Struever will serve as a consultant to the new Stat Centerdevelopment team. It is also servingb as a contractor to the National Aquarium in Baltimord for its Middle Branchexpansion project. Struevedr said he hopes to avoid bankruptcy by running aleanerr company. “It’s tough times, and there’ds no guarantees,” he said. Through layoffsw or resignations, the ranks of Strueve r Bros.
employees has dwindled from more than 350 employees fewerdthan 100. It’s lost several key members of itsdevelopment team, including Fran Weld, who oversae the company’s sustainability and preservation initiatives, and Tim a development director overseeing Struever now-tabled plans to expand Tide Dominic Wiker left Struever Bros. in Novemberf 2007, after five years handling developmeng projects including Charles Center andthe ill-fated formet Olmsted condominium project in Charlesd Village. Struever Bros. halted the Olmsted projecty whenthe city’s condominium market and the company sold the property to Johns Hopkins University for $12.5 million May 7.
Wiker now works for Pikesville developer Mark Sapperstein on the redevelopmentf of McHenry Row in Locust He has kept an eye on the compangy sincehe left, and said he hopexs Struever Bros. is able to recove r from its financial challenges. “Ity was a tremendously exciting experience; it’x just a great learning Wiker said. “Bill undertook some very challenging projects. They were challenging even in the bestof
Saturday, November 26, 2011
Colorado's economy grew faster in 2008, despite recession - Charlotte Business Journal:
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reported Tuesday, suggesting that the recession' s impact hit Colorado later than most other partss ofthe country. Grossa domestic product in Colorado grewby 2.9 percent in up from 2.0 percent in 2007 and 2.7 percent in 2006, the Commercs Department's Bureau of Economic Analysise (BEA) reported in its annual state-by-statwe breakdown of GDP. Colorado's 2.9 percent GDP growt rate was fourth-highest among the 50 states, exceededr only by North Dakota (7.3 percent Wyoming (4.4 percent) and South Dakotq (3.5 percent). The last year Colorado's economy grew fastee than 2008 was in witha 4.3 percent GDP increase that BEA said.
Colorado was one of only 12 statesz in 2008 where the rate of growthy of GDP increased from theprevious year. In 12 states experienced GDP declines in led by Alaska witha 2.0 percent Average growth in GDP amonyg the 50 states slowed from 2.0 percenr in 2007 to 0.7 percenrt in 2008. (The GDP-by-state figures differd from national GDP becausedifferent state-by-statde methodology is used.) The nationwide recession officially began at the start of 2008. The repory said the biggest contributors to the growthof Colorado'sw GDP in 2008 were professionak and technical services, followed by information and government.
It said the biggesyt drags on the state's economy were construction, followesd by transportation and warehousing. .
reported Tuesday, suggesting that the recession' s impact hit Colorado later than most other partss ofthe country. Grossa domestic product in Colorado grewby 2.9 percent in up from 2.0 percent in 2007 and 2.7 percent in 2006, the Commercs Department's Bureau of Economic Analysise (BEA) reported in its annual state-by-statwe breakdown of GDP. Colorado's 2.9 percent GDP growt rate was fourth-highest among the 50 states, exceededr only by North Dakota (7.3 percent Wyoming (4.4 percent) and South Dakotq (3.5 percent). The last year Colorado's economy grew fastee than 2008 was in witha 4.3 percent GDP increase that BEA said.
Colorado was one of only 12 statesz in 2008 where the rate of growthy of GDP increased from theprevious year. In 12 states experienced GDP declines in led by Alaska witha 2.0 percent Average growth in GDP amonyg the 50 states slowed from 2.0 percenr in 2007 to 0.7 percenrt in 2008. (The GDP-by-state figures differd from national GDP becausedifferent state-by-statde methodology is used.) The nationwide recession officially began at the start of 2008. The repory said the biggest contributors to the growthof Colorado'sw GDP in 2008 were professionak and technical services, followed by information and government.
It said the biggesyt drags on the state's economy were construction, followesd by transportation and warehousing. .
Thursday, November 24, 2011
China's Hezhen Yimakan Storytelling Inscribed on UNESCO's Intangible Cultural ... - CRIENGLISH.com
qalymeled.wordpress.com
Hurriyet Daily News | China's Hezhen Yimakan Storytelling Inscribed on UNESCO's Intangible Cultural ... CRIENGLISH.com The United Nations Educational, Scientific, and Cultural Organization (UNESCO) decided Wednesday to inscribe Hezhen Yimakan, a unique art of storytelling in China, on the List of Intangible Heritage in Need of Urgent Safeguarding. ... Chinese storytelling tradition placed on UN list of intangible heritage in danger |
Monday, November 21, 2011
Most Florida banks swoon; three provide model for growth - Houston Business Journal:
vorotintseyqah.blogspot.com
USAmeriBank went from red to blacki ink by signing talented bankers who broughtt customerswith them. Acquisitionas boosted the bottom line at CenterStates Bankof Florida. A merge of related financial institutions cut expensesat , whilse a stronger balance sheet grew income. Each bank prospered by usingg different methodologies, yet their strategies providde a road map for institutions struggling to turn their balancesheeta positive. Their profit gainsd are all the more remarkable given the difficult economifc climatein Florida.
The said 305 bankds and thrifts in Florida reportec a combined net lossof $643 million for the 2009 firsr quarter, compared to net income of $4 milliob for the year-ago period. Profitabilitg remains weak because bankss continue to struggle with bad saidPaula Johannsen, managing director of , an investmenf banking firm in Tampa. Nonperforming assets don’t bring in interestg income, pressuring margins. The provisions bankd take for expected loan losses cut furthe r into their income while the legal and managemenft expense related to forecloses propertygoes up. USAmeriBank — which has amassedc $650.
8 million in assets in its twoyearz — has a cleanm balance sheet, said Joe Chillura, CEO. The bank avoidedr development lending and the loans it does have that are secure by real estate arefor owner-occupieds properties, Chillura said. Only $598,0000 in USAmeriBank loans, or aboutg one-tenth of 1 percent of the total $528.2 million in loans, were past due as of Marc 31, according to a report filed withthe . a former Tampa market presidenrtfor (NYSE: ), said the bankers he’ss hired have brought their customers, a move that was possibl because bigger banks are distracte by bad loans and shrinking capitapl and aren’t focused on customer service.
That’s allowed USAmeriBank to grow more quicklythan expected, Chillurz said, and post a significant going from a $185,000 loss in the firs t quarter of 2008 to $881,0000 in profit in the just-endesd quarter. CenterState saw first quartee 2009 profit swellto $1.2 million, up 68 percent in one after two acquisitions, said John Corbett, presidenrt and CEO. The Winter Haven-based lead bankinh subsidiary of (Nasdaq: CSFL) added a corresponden t banking unit last fall when it hired the bankers who handlef that business for theformerd .
The unit sells bonds to roughlyt 200 othercommunity banks, and it is thriving because communityh banks aren’t doing as much lending as they were a year ago and are investin their cash in bonds. CenterStatew also bought the failedand $178 million in depositws on Jan. 30. “We’ve been putting that moneh to work in loansand investments, and that’s helper us grow,” Corbett said. Aggressive plannint that began around the end of the firsr quarter of 2008 kept Floridw Bank on thegrowth track, said Katie Pemble, presidenr and CEO. Florida Bank’s $351,00p in net income for the first quarter of 2009 was a 73 percen increase from ayear earlier.
Since December, the Tampa-based bank has mergef with three sister institutionsdin Sarasota, Jacksonville and Tallahassee, consolidating back-officde operations and cutting Each of the banks was above the level regulatorsa considered well-capitalized, and their capital position was further strengthened when they Additionally, executive officers and the board developed a seriesz of 90-day plans focused on strengthening the balanc e sheet with an emphasis on capital and on liquidity, or the ability to turn its assets into cash A strong balance sheet allowex Florida Bank to look for the leasgt expensive way to attract funding, a move that boosta net interest margin, or the spread between the interest it pays on depositse and the interest it earnss from loans.
Although there are glimmers of hope, CenterState’e Corbett expects more loan writedowns acrosds the industry in the next two tothreer quarters. The number of institutions on the watch list increasee in the first three months of and as ofMarch 31, 30 percent of Florida’as banks were on the list, compared to 15 percentf of the institutions a year ago. Access to the capital markegt marketsis critical, Corbett said, adding the stresw tests the nation’s biggestt banks just underwent have inspiredf investor confidence in those institutions.
Sincew results were released May 7, the banks collectivelh have raisednearly $60 billion of the $75 billiobn in extra capital regulators said they need. “Asw investments come back into thebig banks, I think over time you’lll see that trickle down to the mid cap and communituy banks,” Corbett said.
USAmeriBank went from red to blacki ink by signing talented bankers who broughtt customerswith them. Acquisitionas boosted the bottom line at CenterStates Bankof Florida. A merge of related financial institutions cut expensesat , whilse a stronger balance sheet grew income. Each bank prospered by usingg different methodologies, yet their strategies providde a road map for institutions struggling to turn their balancesheeta positive. Their profit gainsd are all the more remarkable given the difficult economifc climatein Florida.
The said 305 bankds and thrifts in Florida reportec a combined net lossof $643 million for the 2009 firsr quarter, compared to net income of $4 milliob for the year-ago period. Profitabilitg remains weak because bankss continue to struggle with bad saidPaula Johannsen, managing director of , an investmenf banking firm in Tampa. Nonperforming assets don’t bring in interestg income, pressuring margins. The provisions bankd take for expected loan losses cut furthe r into their income while the legal and managemenft expense related to forecloses propertygoes up. USAmeriBank — which has amassedc $650.
8 million in assets in its twoyearz — has a cleanm balance sheet, said Joe Chillura, CEO. The bank avoidedr development lending and the loans it does have that are secure by real estate arefor owner-occupieds properties, Chillura said. Only $598,0000 in USAmeriBank loans, or aboutg one-tenth of 1 percent of the total $528.2 million in loans, were past due as of Marc 31, according to a report filed withthe . a former Tampa market presidenrtfor (NYSE: ), said the bankers he’ss hired have brought their customers, a move that was possibl because bigger banks are distracte by bad loans and shrinking capitapl and aren’t focused on customer service.
That’s allowed USAmeriBank to grow more quicklythan expected, Chillurz said, and post a significant going from a $185,000 loss in the firs t quarter of 2008 to $881,0000 in profit in the just-endesd quarter. CenterState saw first quartee 2009 profit swellto $1.2 million, up 68 percent in one after two acquisitions, said John Corbett, presidenrt and CEO. The Winter Haven-based lead bankinh subsidiary of (Nasdaq: CSFL) added a corresponden t banking unit last fall when it hired the bankers who handlef that business for theformerd .
The unit sells bonds to roughlyt 200 othercommunity banks, and it is thriving because communityh banks aren’t doing as much lending as they were a year ago and are investin their cash in bonds. CenterStatew also bought the failedand $178 million in depositws on Jan. 30. “We’ve been putting that moneh to work in loansand investments, and that’s helper us grow,” Corbett said. Aggressive plannint that began around the end of the firsr quarter of 2008 kept Floridw Bank on thegrowth track, said Katie Pemble, presidenr and CEO. Florida Bank’s $351,00p in net income for the first quarter of 2009 was a 73 percen increase from ayear earlier.
Since December, the Tampa-based bank has mergef with three sister institutionsdin Sarasota, Jacksonville and Tallahassee, consolidating back-officde operations and cutting Each of the banks was above the level regulatorsa considered well-capitalized, and their capital position was further strengthened when they Additionally, executive officers and the board developed a seriesz of 90-day plans focused on strengthening the balanc e sheet with an emphasis on capital and on liquidity, or the ability to turn its assets into cash A strong balance sheet allowex Florida Bank to look for the leasgt expensive way to attract funding, a move that boosta net interest margin, or the spread between the interest it pays on depositse and the interest it earnss from loans.
Although there are glimmers of hope, CenterState’e Corbett expects more loan writedowns acrosds the industry in the next two tothreer quarters. The number of institutions on the watch list increasee in the first three months of and as ofMarch 31, 30 percent of Florida’as banks were on the list, compared to 15 percentf of the institutions a year ago. Access to the capital markegt marketsis critical, Corbett said, adding the stresw tests the nation’s biggestt banks just underwent have inspiredf investor confidence in those institutions.
Sincew results were released May 7, the banks collectivelh have raisednearly $60 billion of the $75 billiobn in extra capital regulators said they need. “Asw investments come back into thebig banks, I think over time you’lll see that trickle down to the mid cap and communituy banks,” Corbett said.
Saturday, November 19, 2011
FEMA drops Tampa flood insurance rates - Tampa Bay Business Journal:
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Residents will see a decreasde in their standard flood policy rateeand that’s attributable to efforts by city a release said. The Community Rating System, which is administeredf by the , awardzs points to a community for the activities it undertakes to address floodinf andother hazards. Tampas has been awarded a Class 6 which willreduce residents’ premiums by 20 percen off the standard policy rates.
Tampa’ss rating was due to efforts that have been undertakenj to solveflooding problems, increase the amount of publidc land in the floodplain, the enforcement of rules for construction in the and educating the public on the hazards of building in the floodplainn and the importance of flood Ratings directly affect Tampaw residents, not only becauser they reflect increased effortsw to reduce flooding but also becausde better ratings translate into lower costs for flood Each rating level below Class 10 reduces flooxd insurance costs by 5 percent, a release from the city Policyholders were receiving an average discount of $105 off the standard flood policy rates.
On May 1 that discount jumped up to an averageof $142 per policy. The totak savings amount to almost $3.7 million a year for floode insurance policy holders inthe city, which, accordin to the release, is among the highestr average savings in the nation.
Residents will see a decreasde in their standard flood policy rateeand that’s attributable to efforts by city a release said. The Community Rating System, which is administeredf by the , awardzs points to a community for the activities it undertakes to address floodinf andother hazards. Tampas has been awarded a Class 6 which willreduce residents’ premiums by 20 percen off the standard policy rates.
Tampa’ss rating was due to efforts that have been undertakenj to solveflooding problems, increase the amount of publidc land in the floodplain, the enforcement of rules for construction in the and educating the public on the hazards of building in the floodplainn and the importance of flood Ratings directly affect Tampaw residents, not only becauser they reflect increased effortsw to reduce flooding but also becausde better ratings translate into lower costs for flood Each rating level below Class 10 reduces flooxd insurance costs by 5 percent, a release from the city Policyholders were receiving an average discount of $105 off the standard flood policy rates.
On May 1 that discount jumped up to an averageof $142 per policy. The totak savings amount to almost $3.7 million a year for floode insurance policy holders inthe city, which, accordin to the release, is among the highestr average savings in the nation.
Thursday, November 17, 2011
Letter: Purchase American made to protect our jobs here - TCPalm
bhutan-warwick.blogspot.com
Letter: Purchase American made to protect our jobs here TCPalm My cousin, a contractor in Cape Coral, had purchased three components from the same manufacturer. The stove was down for the second time and that $2600 refrigerator was in need of repair (both 3 years old). And a friend in Connecticut has a 2-year-old ... |
Tuesday, November 15, 2011
Why the Farm Bill Matters - Huffington Post
evlampiyacyxybyw.blogspot.com
Why the Farm Bill Matters Huffington Post I have a confession to make: I'm intimidated by the Farm Bill. Luckily, some of my colleagues at Just Food get it (as much as it can be gotten) and can take the time to explain it to me. As much as I'd like to avoid thinking about the Farm Bill ... Farm To School program discussed in Helena Food and justice for &r aquo; |
Sunday, November 13, 2011
Official chosen to run Dover military mortuary probe steps aside - CNN
esivyjifag.wordpress.com
Official chosen to run Dover military mortuary probe steps aside CNN Richard Carmona, shown in a 2008 photo, was selected by President George W. Bush to be the US surgeon general. The man selected on Tuesday to run an independent investigation of problems within the military mortuary at Dover Air Force Base has already ... |
Friday, November 11, 2011
Dai-Ichi Cutter <1716.OS>-1qtr group results - Reuters
viningocouqyl1601.blogspot.com
Dai-Ichi Cutter <1716.OS>-1qtr group results Reuters Nov 11 (Reuters) - DAI-ICHI CUTTER KOGYO KK CONSOLIDATED FINANCIAL HIGHLIGHTS (in billions of yen unless specified) 3 months ended 3 months ended 6 months to Year to Sep 30, 2011 Sep 30, 2010 Dec 30, 2011 Jun 30, 2012 LATEST YEAR-AGO H1 LATEST RESULTS ... |
Tuesday, November 8, 2011
District to mull convention hotel financing options - Washington Business Journal:
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They plan to work with Chief Financial Officefr Natwar Gandhi to consider a rangeof options, from movingf financing from other public-private partnershipd to working around the city’s recentlu imposed 12 percent debt cap. Discussione became public May 29 whenthe ’s board directe CEO Greg O’Dell to seek authorit for the sale of bondx to cover the entire price of the interest during construction, insurance and other Developers plan a 1,167-room Marriott Marquis with retailk and 400 underground parking spaces. The D.C.
Councilk already has committeda $187 million tax increment financing packagew for the project, enough to raise 25 percent of the $550 milliom total cost, with the idea that developers Quadrangle Developmenyt Corp. and Capstone Development LLC coulds find the rest fromprivatew sources. “They’ve been pursuing private financing and inthis market, you that is very difficult,” O’Dell said. “They’ve spent millionz of dollars on this project to try to move it It really is shovel readyy with the exceptionof financing.
” Council members say they are sensitive to competition from destinations such as National Harbotr in Prince George’s County and they fear the city will begihn missing out on major conventions for 2013 if hotepl construction doesn’t begin this fall. But the city alreadyt faces anestimated $967 million budgetf shortfall for fiscal 2011 and the borrowinh would violate a new 12 percent debt cap. Gandhi, who predictsa the debt level toreach 11.6 percent in fisca 2011, does not support exceeding the cap, but some city officialds question whether issuing new conventiob authority bonds would do that.
Councilman Jack D-Ward 2 and chair of the financew committee, said getting into the ground this fall is a but expects opponents to compare the projectt to theNationals Park, the most recenf major publicly financed project, whichg cost the city more than $700 million. He pointed out that if the city financex and owned the hotelk it could sell it when themarket “Hotels are sold all the time, just like officwe buildings … You cannogt sell a baseball stadium.
So I think comparisonas betweenthe two, although they will be made, are not Another option would be to pull subsidies from othef city real estate deals, somethinh mentioned both by Evans and Councilman Kwame Brown, D-At large and chaidr of the economic development committee. “Io think the question is whether [other councikl members] are interested in reducing projects in their Brown said. Pitching the deal alongside O’Dell will be Fenty’sd new deputy mayor for planning andeconomic development, Valerie as well as her predecessort Neil Albert, a member of the conventiobn center authority board and the new city “This is only going to get done if the full faitgh and credit of the District government is behinc it,” Albert said, notinf private markets won’t invest for the foreseeable future.
The city however, try to convince already interested equity investorse to jump in with a smaller amounrof money. O’Dell and Norman Jenkins, Capstone indicated that roughly $135 million in equitu is in place, but that it is contingentf on $300 million in debt from banks. “We could still get there, but we got to get the bankes to play and they move at theifrown pace,” Jenkins said.
Evans said he hopexs $100 million in city financing might convince banks to commi tolend $100 million or $200
They plan to work with Chief Financial Officefr Natwar Gandhi to consider a rangeof options, from movingf financing from other public-private partnershipd to working around the city’s recentlu imposed 12 percent debt cap. Discussione became public May 29 whenthe ’s board directe CEO Greg O’Dell to seek authorit for the sale of bondx to cover the entire price of the interest during construction, insurance and other Developers plan a 1,167-room Marriott Marquis with retailk and 400 underground parking spaces. The D.C.
Councilk already has committeda $187 million tax increment financing packagew for the project, enough to raise 25 percent of the $550 milliom total cost, with the idea that developers Quadrangle Developmenyt Corp. and Capstone Development LLC coulds find the rest fromprivatew sources. “They’ve been pursuing private financing and inthis market, you that is very difficult,” O’Dell said. “They’ve spent millionz of dollars on this project to try to move it It really is shovel readyy with the exceptionof financing.
” Council members say they are sensitive to competition from destinations such as National Harbotr in Prince George’s County and they fear the city will begihn missing out on major conventions for 2013 if hotepl construction doesn’t begin this fall. But the city alreadyt faces anestimated $967 million budgetf shortfall for fiscal 2011 and the borrowinh would violate a new 12 percent debt cap. Gandhi, who predictsa the debt level toreach 11.6 percent in fisca 2011, does not support exceeding the cap, but some city officialds question whether issuing new conventiob authority bonds would do that.
Councilman Jack D-Ward 2 and chair of the financew committee, said getting into the ground this fall is a but expects opponents to compare the projectt to theNationals Park, the most recenf major publicly financed project, whichg cost the city more than $700 million. He pointed out that if the city financex and owned the hotelk it could sell it when themarket “Hotels are sold all the time, just like officwe buildings … You cannogt sell a baseball stadium.
So I think comparisonas betweenthe two, although they will be made, are not Another option would be to pull subsidies from othef city real estate deals, somethinh mentioned both by Evans and Councilman Kwame Brown, D-At large and chaidr of the economic development committee. “Io think the question is whether [other councikl members] are interested in reducing projects in their Brown said. Pitching the deal alongside O’Dell will be Fenty’sd new deputy mayor for planning andeconomic development, Valerie as well as her predecessort Neil Albert, a member of the conventiobn center authority board and the new city “This is only going to get done if the full faitgh and credit of the District government is behinc it,” Albert said, notinf private markets won’t invest for the foreseeable future.
The city however, try to convince already interested equity investorse to jump in with a smaller amounrof money. O’Dell and Norman Jenkins, Capstone indicated that roughly $135 million in equitu is in place, but that it is contingentf on $300 million in debt from banks. “We could still get there, but we got to get the bankes to play and they move at theifrown pace,” Jenkins said.
Evans said he hopexs $100 million in city financing might convince banks to commi tolend $100 million or $200
Sunday, November 6, 2011
Friday, November 4, 2011
New Chinese drywall worry: Radiation - Kansas City Business Journal:
antoninahubihe.blogspot.com
The Los Angeles Times ran an investigative story revealingthat phosphogypsum, a radioactive byproduct of phosphate fertilizer production, is commonly used in some Chinese-mader drywall. Phosphogypsum is foundc in abundancein Florida, where the bulk of Chineser drywall complaints have been logged. A white powderhy substance, it is piled along the highwaya ofCentral Florida’s Bone Valley-Fort Meade where fertilizer is made. It is different from normal gypsum, a mineral-like substance that can come from mineas or as a residuefrom coal-fired powerf plant air pollution scrubbers. But, phosphogypsum is banned as a buildinhg product in drywall inthe U.S.
So far, limite d tests by state and federal authorities have not founxd it in anyproblem drywall. “Phosphogypsum is bannesd in theUnited States, and we do not use said Nancy Spurlock, spokeswoman for domesti manufacturer , which has a large productiob facility in Apollo Beach, near The has received about 500 complainta of Chinese drywall in homes, with the majority in Soutj Florida or Southwest The problem drywall has been associated with metap corrosion in air conditioners and electrical wiring, odor and health complaints.
Susan press secretary for the department, said Tuesdayu there has been no evidence of elevated levelas of radiation associated with Chinese drywall in only normalbackground levels. But, the state’zs tests have been severelu limitedso far. Samples taken from four homes earlief this year showed higher levels of sulfur compounds in Chinese drywall compared todomestic brands, and which was not found in domestic brands. Furthe test results on indoor air sampling at several homes are expecteds laterthis month. The and have also been involvedr inthe investigation.
Regarding phosphogypsum, Smith said she can’t speculat e about its presence but, “I can [say] we are lookinyg into this issue with ourfederal partners.”
The Los Angeles Times ran an investigative story revealingthat phosphogypsum, a radioactive byproduct of phosphate fertilizer production, is commonly used in some Chinese-mader drywall. Phosphogypsum is foundc in abundancein Florida, where the bulk of Chineser drywall complaints have been logged. A white powderhy substance, it is piled along the highwaya ofCentral Florida’s Bone Valley-Fort Meade where fertilizer is made. It is different from normal gypsum, a mineral-like substance that can come from mineas or as a residuefrom coal-fired powerf plant air pollution scrubbers. But, phosphogypsum is banned as a buildinhg product in drywall inthe U.S.
So far, limite d tests by state and federal authorities have not founxd it in anyproblem drywall. “Phosphogypsum is bannesd in theUnited States, and we do not use said Nancy Spurlock, spokeswoman for domesti manufacturer , which has a large productiob facility in Apollo Beach, near The has received about 500 complainta of Chinese drywall in homes, with the majority in Soutj Florida or Southwest The problem drywall has been associated with metap corrosion in air conditioners and electrical wiring, odor and health complaints.
Susan press secretary for the department, said Tuesdayu there has been no evidence of elevated levelas of radiation associated with Chinese drywall in only normalbackground levels. But, the state’zs tests have been severelu limitedso far. Samples taken from four homes earlief this year showed higher levels of sulfur compounds in Chinese drywall compared todomestic brands, and which was not found in domestic brands. Furthe test results on indoor air sampling at several homes are expecteds laterthis month. The and have also been involvedr inthe investigation.
Regarding phosphogypsum, Smith said she can’t speculat e about its presence but, “I can [say] we are lookinyg into this issue with ourfederal partners.”
Wednesday, November 2, 2011
Downtown Staybridge Suites seeks receivership - Business First of Buffalo:
ramoledef.blogspot.com
SJ Properties Suites Buyco EHF, whicnh includes an investor from Reykjavik, Iceland, fileds the petition Monday in Milwaukee CounttCircuit Court. Judge Mel Flanagan scheduled a hearingt for June 30 on a motion to appointt Milwaukee attorney Seth Dizard as the Work stopped in December 2008 onthe high-rise at 1150 N. Wated Street when the construction manager and developed DOC Milwaukeebecame insolvent, according to the receivershipo petition. The Icelandic investorz said that in Novembee 2006 they provided an advanceof $17.4 millio for a 120-room extended stay hotel and at leasy 18 luxury condos. The projectr also received $13.
4 million in financingb from a unit ofin Atlanta, whic h in May was placed in receivershil by the FDIC. The Milwaukee receivership petition said the property on Water Streetr alreadyhas furniture, flooring and fixtures in the Staybridge portion of project. Liens against the project total morethan $3.4 million, according to the receivership The largest liens were filed by Milwaukee-area contractoras and suppliers Uihlein Electric, , and Klein-Dickert. SJ Properties recently sued DOC Milwaukew and Economou Partnersin U.S. Districrt Court in Milwaukee claimingy a fraudulent transfer of funds intended for the WatefStreet project.
SJ Properties Suites Buyco EHF, whicnh includes an investor from Reykjavik, Iceland, fileds the petition Monday in Milwaukee CounttCircuit Court. Judge Mel Flanagan scheduled a hearingt for June 30 on a motion to appointt Milwaukee attorney Seth Dizard as the Work stopped in December 2008 onthe high-rise at 1150 N. Wated Street when the construction manager and developed DOC Milwaukeebecame insolvent, according to the receivershipo petition. The Icelandic investorz said that in Novembee 2006 they provided an advanceof $17.4 millio for a 120-room extended stay hotel and at leasy 18 luxury condos. The projectr also received $13.
4 million in financingb from a unit ofin Atlanta, whic h in May was placed in receivershil by the FDIC. The Milwaukee receivership petition said the property on Water Streetr alreadyhas furniture, flooring and fixtures in the Staybridge portion of project. Liens against the project total morethan $3.4 million, according to the receivership The largest liens were filed by Milwaukee-area contractoras and suppliers Uihlein Electric, , and Klein-Dickert. SJ Properties recently sued DOC Milwaukew and Economou Partnersin U.S. Districrt Court in Milwaukee claimingy a fraudulent transfer of funds intended for the WatefStreet project.
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