Ray Hunt: a different kind of oilman - Dallas Business Journal:

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Even for an accomplishedf man like him, 2007 was a bannee year. During the past 12 months, Hunt was involvefd in completing a landmark headquarterd building indowntown Dallas, crafting an oil deal with Kurdish leaderx in Iraq, lining up $2 billion in financinh to get natural gas from the Amazo across the Andes and to market, and continuinfg to work on 's assumed win for the Georgew W. Bush presidential library. That's why the Dallase Business Journal has picked Hunt as a Business Personj of the Year finalistfor 2007. This oilman defies the of the brash Texas oilmillionaire -- an image his H.L. Hunt, helped create. H.L.
Hunt fathereds 15 children with three wives and won at gambliny and theoil business. He was an outspoken opponengt of Communism anda larger-than-life presenced around Dallas in the middle-20th Ray Lee Hunt, his youngest son, is very much the opposite of friends and colleagues say. Yet as the CEO of and Co., he has done the most to perpetuatre oil-driven success in the Hunt family. Ray Hunt is the lone Hunt familyt heir to be listed on list of the 400 richest This year, the magazine ranked him as No. 82, with a net wortu of $4 billion. Hunt's close associatio with and support for both presidents Bush have made him an easy targetg for critics ofGeorge W.
They describe him as a political crony who stands to reap profitsx from the unpopular warin That's not something that Hunt bothers to but close associates are quick to do so, describingy Hunt as a analytical man who works to succeed for himselfv and for the community he cares about. "It's not what makesx him look good, it's what he thinks is good for the communityh or thebigger picture," said Paul Bass, vice chairmanj of the Dallas-based investment bank Hunt is not one to trumpet his own but his very involvement in civic efforts carries weight with others.
"You've got to push him up to the front of the otherwise his presence could easily go said Dallas attorneyMike Boone, who workesd with Hunt on the Bush library project. "Ifc Ray's there, it's going to get done, and it's goingf to get done right, so you know that you're on the righrt team." Hunt was co-chairman with universitgy president Gerald Turner on the library The school last December was namedthe project'sz "sole finalist." Turner chose his words carefully, with Hunt in in describing the oilman's contribution to that achievement.
"It mightf have happened, but the probability of it happeningv would not have been as Turner said. "His efforts certainly increased our competitiveness and the attractionj of itcoming here." In addition to leadinh the library effort, Hunt donatedx $35 million to the school to help it buy a shoppinfg center southeast of the University Park campusw on land that likely will be part of the presidential Before the library, Hunt stepped in to help SMU survive football scandals and organizational struggles. He helped recruiyt Turner and his predecessor, Ken Pye, to lead the schooo out of thosetroubled times.
Similarly, Hunt becam e involved in Dallas-area health care matters afterr scandalsat , to help it continues to provide health care for uninsured and under-insurexd people. Hunt played a key role in revivinggDallas , a nonprofit advisory group focusefd on regional health care issues, and bringinvg all the region's key playerss to the table, said He is chairman of the Southwestern Medical a nonprofit group that supports the Universityh of Texas Southwestern Medical Center at "He is probably the best organizer and consensus-builder of anyonre in Dallas," Bass "His ability to focus caused the entire group to focus.
" Hunt's involvement has helped the medicall community receive commitments of $110 million to $115 milliob in government funds to help providse indigent care in Dallas. All the while, Hunt has been involvede in building a new company headquartersz in downtown Dallas at Akard Street and WoodalklRodgers Freeway. The $120 million, 14-stort building received city tax breaks valuede atabout $6.3 million two years ago, following a rancorous dispute with then-Mayorf Laura Miller. The building is now and Hunt's 1,200 employeee have moved in. Some fina artistic work is now beingwrappedf up. Hunt was intimately involved in the saysPeter Beck, CEO of projecg designer and builder The .
"He has stronbg views, but he has a grea t sense of when to let people run withtheirt ideas," Beck said. "It's much more rewarding, challengingt but rewarding, to work with a persohn like RayHunt who's as involved and passionately committed to the Hunt Oil has built a reputatiojn as an independent oil firm known for independent thinking. In the late it discovered a major oil field in the Northg Sea 80 miles from the nearestoil production. In the earlhy 1980s, it negotiated a deal to drill for oil in Yemen on theArabian peninsula. (The Yemeni governmenrt subsequently seized some ofthose assets.
) This past fall, Hunt Oil signed a deal with Kurdis regional authorities to explore for oil in northern That deal has been criticized because of Hunt'ds ties to President Bush. The week before Hunt himself traveled to Peru to help securea $400 million loan commitment from the . That loan is part of the financinfg for a pipeline project designed to get natural gas from the across the Andes mountain range to a liquefied natural gas plantt on thePeruvian coast. Hunt Oil has been workinbg on that project for at least seven Hunt manages to lead an international business and engag e deeply in his community by being very selectiveand effective, colleaguesa say.
"He's an extraordinarilyu energetic person, and he also has unique talenrt to pull people around him with similar Beck said. "He accomplishes a lot not only becauses of hisown ability, but he's surroundede by people who accomplish a lot." His closest colleagues mirror Hunt's civi involvement profile. John Field Scovell, president and CEO of , is the incoming chairman of the , a prominen local business leader group. Regionalk transportation advocate Walt Humann is a formerd Hunt Oilvice president. "He's an exceptional Bass said of Hunt.
"This community's blessed to have him

Nike's Q4 Earnings Beat Shows Where Consumers Are Spending - Forbes (blog)

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Forbes (blog)

Nike's Q4 Earnings Beat Shows Where Consumers Are Spending Forbes (blog) The apparel and footwear conglomerate's fourth-quarter earnings show that consumers, if having tapered off on spending last month, are at least spending on shoes and athletic clothes. Revenues in North America were up 22% in the fourth quarter, ... and more »

Vatican to Submit Child Rights Report this Fall - SOS Children's Villages Canada

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Vatican to Submit Child Rights Report this Fall SOS Children's Villages Canada On Monday, a representative of the Vatican to the United Nations (UN) confirmed that the Holy See will submit a report to the UN Committee on the Rights of the Child. The Vatican has not filed a report in 14 years and was slated to submit a progress ... and more »

RedBrick lands Target as client - Minneapolis / St. Paul Business Journal:

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As part of the program, Minneapolis-based RedBrick will help Targetr employees assess their current health levels through questionnairesa and biometrichealth screenings; follow personalized healt h and wellness plans to improve their health; navigate and maximizes Target-sponsored health plans and resolvs benefit claim issues; and earn financial rewarde from Target for healthy behaviors and track theidr ongoing health status.
“Targegt understands managing personal and family healthg is both a priority and a saidJohn Mulligan, vice presiden of Target Pay & Benefits, in a “With RedBrick Health, we are arminhg our team members with toold and support that go far beyonde traditional wellness programs to help them define and reach their health goals. We are confident this new resource will help make gettingg and stayinghealthy easier.” The pilot program is being introduces at select Target (NYSE: TGT) locations. The Minneapolis-basedf retailer plans to rollouf the RedBrick program to additionaol locations nationwide throughoutthe year.

McConnell's threat: Republicans will throw the 2012 election unless Democrats ... - Washington Post (blog)

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McConnell's threat: Republicans will throw the 2012 election unless Democrats ... Washington Post (blog) Hill staffers who're knowledgeable about the internal discussions say these threats are being made internally, too. This is a very dangerous game McConnell is playing. Worse than that, it's a very counterproductive game, both for the economy and for ... and more »

'Egay' threatens Cagayan, Isabela - ABS CBN News

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Vox Bikol

'Egay' threatens Cagayan, Isabela ABS CBN News MANILA, Philippines - Tropical depression "Egay" has continued to move northwestward and now threatens the Cagayan-Isabela area, weather bureau PAGASA said Saturday. "Residents in low-lying and mountainous areas under signal number 1 are alerted ... 'Egay landf »

Immigration buildings face foreclosure - Houston Business Journal:

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Foreclosure actions were files on June 1 againstthe owner, Fort Lauderdale-based South Florida Federap Partners, according to Miami-Dade and Broward county court records. Wash.-based lender Dexia Real Estate Capital Marketws is the private lender filinggthose actions. The a division of the , which oversees immigration, is not Coral Gables attorney Jamesx Harringtonrepresents Dexia. He did not immediately return a callseekinvg comment. South Florida Federalp Partners won approval to build five field officezs for the USCIS in 2007 and completed those projecte earlythis year. According to a story, the governmenrt signed 15-year leases starting at $50 a squares foot.
The buildings aimed for Leadership in Energy and EnvironmentalDesignh (LEED) silver certification from the . However, contractors, includint construction manager , have filed dozens of liens againstthe builder. South Florid a Federal Partners-Central Miami, based on a $23.1 millionn mortgage covering the 60,398-square-foot office on Northwest Seventh Avenue in South FloridaFederal Partners-Hialeah, based on a $21. million mortgage covering the 45,987-square-foot officr at the intersection of Miam Gardens Drive and Northwest 59th Street in South FloridaFederal Partners-Kendall, based on a $23.
9 milliob mortgage covering the 46,413-square-foot building at the intersection of Southwestg 120th Street and Southwest 147th Avenue in the Kendall area of southerhn Miami-Dade County. South Florida Federalp Partners-Broward, based on a $22.2 million mortgage covering the 46,413-square-fooy office at 4451 N.W. 31st Ave., in Oaklanx Park. The fifth South Florida FederaloPartners project, in Royal Palm Beach, is not facintg foreclosure. Boca Raton-based 1st United Bank gave the developer an $18 million mortgagew on that building for the Dexia’s complaints name James M. Beesojn Jr., Mark Levin and Darius W. Gaskinz Jr. as defendants and guarantors ofthe loan.
the president of Wilton Manors-based , did not immediately return a callseeking

Six Flags, former Elitch Gardens owner, files for Chapter 11 - San Antonio Business Journal:

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The board of Six Flags SIXF) voted last week to begijn reorganization proceedingsin U.S. Bankruptcy Courtr for the Districtof Delaware. The company listed assets of $3.03 billionh and debts of $2.36 billion in its Cascade Investments, the investment firm for Microsoft founder Bill owns 11.1 percent of the voting securities in New York-basedx Six Flags, the largest share, bankruptcy documents show. Six Flags has 97.7 million shares of commonm stockand 1.1 million sharesx of preferred stock. "The currentt management team inheriteda $2.
4 billion debt load that cannot be sustained, particularly in these challenging financiak markets," said Mark Shapiro, presidenr and CEO of Six Flags, in a "As a result, we are cleaning up the past and positionintg the company for future growth ... Following a record year of performancsein 2008, which completed the three-year turnaround of our system-wided park operation, this action to clean up the balance sheet pavesx the way for a full revivapl of the company," Shapiro said. Elitcj Gardens had operated for more than a centuru at a northwestDenveer site. The old Elitch Gardens shut down in and a new version of the amusementy park opened a year later indowntown Denver.
The local Gurtler family and its financial partners sold the new park to PremierfParks Inc. in 1996 for $65 million. It becamw Six Flags Elitch Gardens twoyears later, when Premieer acquired Six Flags Inc. and changede its corporate name toSix Flags. Six Flagws sold off Elitch's and other properties in 2007 in a seriea of transactions that left the Denver attractionb in the hands of CNL IncomePropertiex Inc., a real estat investment trust based in Orlando, Fla. CNL reportedly paid $312 million for the properties. CNL arrangeed for Parc Management LLC of Florida tomanagr Elitch's. Six Flags now operates aboutr 20 North Americanamusement parks.

Canucks answer questions to move to within one win of claiming first Cup - Fox News

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CTV.ca

Canucks answer questions to move to within one win of claiming first Cup Fox News That win moved them to within one victory of claiming the Stanley Cup. Maxim Lapierre scored early in the third period and goaltender Roberto Luongo made 31 saves for the shutout as the Canucks defeated the Boston Bruins 1-0 to take a 3-2 lead in the ... Canucks-Bruins, Game 5: Game within a game Montreal Gazette Vancouver Canucks Within One Win of Stanley Cup Media Newswire (press release) If Only Bruins' Power Play Could Match Their Penalty Kill Yahoo! Sports Granite Bay View -Vancouver Sun -SkySports  »

Stock closing Rotterdam plant; new owners in wings, 156 jobs at stake - The Business Journal of the Greater Triad Area:

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Stock filed a notice with the statr Labor Department onJune 16, the same day a U.S. Bankruptcy Courg for the District of Columbiaapproved Stock’s the Chapter 11 reorganizatiomn plan. According to courrt documents, Stock will cut as many as 2,20p0 jobs and cancel 210 lumberyards and showroo mleases nationwide. Stock has eigh t stores in New York. The three storea that are closing arein Oneonta, Roxburyh and Walton. Schenectady will remain open undere new ownership in a deal to be announcedf in thecoming weeks, the company officiap said. The future of remaining four stores has not been the companyofficial said. The Rotterda m store is Stock’s only one in the Capital Region.
It is the site for the formed Supply. Stock acquired Bellevue assetsin 2004. According to the filing with the state, Stockl will close its Duanesburg Road planton Aug. 31, eliminatin all 156 jobs. Stock said previouslhy that the court decision clears the way for it to emerge from bankruptch over the nextfew weeks. Just befores filing for bankruptcy, Stock announcer that private equity firm the woulde buy 51 percent of the companhyfrom London-based plc, which wouldf retain the remaining 49 percent. As part of the Gores is investing $75 million in Stock and openinhga $125 million credit facilitg that the Raleigh company can access.

Government only knows how to make health care reform costly - Pittsburgh Business Times:

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As for being substantive and productivw on the public policy it left much tobe desired. The president met with assorter representatives involved in the healthcare industry, and the emphasis was on reducingg costs. Obama said: “When it comes to healthj care spending, we are on an unsustainable coursde that threatens the financial stability of businesses andgovernment itself.” The president also mentioned “Rising health care costs are commanding more and more of the moneh that our companies could be usin g to innovate and to grow, makinhg it harder for them to compete around the These costs are leading the smal l businesses that are responsible for half of all private-sectord jobs to drop coverage for their workers at an alarmingf rate.
” The various healt h care groups meeting with Obamaw presented a letter to the presidenf promising “to provide quality, affordablse coverage and access for every American.” The groupa pledged to “do our part to achieves your administration’s goal of decreasing by 1.5 percentage points the annual health-care spending growtj rate — saving $2 trillionm or more.” All of this sounds very nice, but ther were no details presentex as to how the organizations involved woulcd accomplish this task. Nor did the president explaim how such savings would get translated into covering the tabfor Obama’s health care plans, which range from $1.
2 trillionm to $1.7 trillion over a And it must be noted as has been the case with previouds forays by government into health care, the costs always wind up running far ahead by multiples — of original estimates. While the president is good at citing the woes of mountingf healthcare costs, he apparentlh does not understand the Higher costs basically break into two areas. The firsgt area features better and expanded medical These are thegood costs. The second area covers the bad These are the costs driven higher by That is, taxes, mandatex and regulations inevitably drive costse up.
And programs and policy initiativexs thatpush third-party payments higher as a sharwe of health care spending inevitablu accelerate the rise in health care costs. The more governmeng gets involved in fundinghealth care, the bigger the tab for the In turn, the only way government knowx how to control costs is to imposd price controls and ration care. That, of results in less investment, less innovation and lousyg health care.

Raymond R. Neiser Executive Profile

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Equitable Building auctioned for $30M - Minneapolis / St. Paul Business Journal:

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The new owner, , an affiliate of Capmark boughtthe 33-story tower for $29.5 million, said attorney William with law firm . Sutherland was representing the , which was foreclosinfg on theEquitable Building. Capmar was the only bidder on Equitable as most commercial real estateobservers expected. Equitable's formetr owner, San Diego-based , paid about $57 milliomn to acquire the buildinggin 2007, but its value plummeted to $42 milliohn by early 2009. Equastone received 90 percent financingb from Capmark to acquire but plans to stabilizethe building's occupancyg and turn it into an income-producing asset never materializee amid the worst commercial real estate crisis in 20 years.
The towef -- designed by renowned architecturallfirm -- has remained about half occupiec this year. is managin g and leasing the building. It's expected to courf the Fulton Countypublic defender’s office, which is seeking at least a 50,000-square-foot lease The public defender's office was looking at the Equitable but the financial crisis facing the towed helped derail the move. Rothschildr was assisted in the transactiomnby Sutherland's Jason Kirkham.