Group Attempts to Revive SD Park NBC San Diego By Sarah Grieco With the closure dates for a few California state parks looming, a San Diego group has stepped up to raise enough money to keep a nearby park open. A Rancho Santa Fe family, Robert S. Wilson and his wife, have offered to pay for half of ... |
Tuesday, January 31, 2012
Group Attempts to Revive SD Park - NBC San Diego
manuscripts-shuwatu.blogspot.com
Saturday, January 28, 2012
Anti-abortion advocates protest University of Scranton speaker - Scranton Times-Tribune
pabigy.wordpress.com
Scranton Times-Tribune | Anti-abortion advocates protest University of Scranton speaker Scranton Times-Tribune By David Falchek (Staff Writer) David Falchek / Staff Photo Protesters hit the University of Scranton for hosting a speaker who favors abortion rights. Staff Photo / David Falchek A band and bagpipers join protesters outside the Cathedral Prayer Garden ... |
Thursday, January 26, 2012
City extends kill date on stadium deal - East Bay Business Times:
ramsdenjerrieas54.blogspot.com
The date was changed to July 15, from July 1, afte , which is providing a $100 million lette r of credit towardthe project, asked to modifuy the terms of its County commissioners are to meet Friday to consider Wachovia's request to change the date of when the bank's fees are to be Wachovia is asking it be paid its fees instead of after debt and reservwe payments are made, as stipulated under the current In a 3-2 vote the city commissioners approved the Allow the termination date to be moved to July 15. Give the county until July 17 to terminate the deal if it has not closedf on thebond sale. Extend the date for the city’zs $13 million contribution to July 17.
Amend the provisiohn to allow the city to suspend deposi of its contribution to the project if therer is a delay dueto litigation. Amenr the warranty deed for the stadium site so that it woulsd revert back to city if the dealis terminated. In Miami-Dade County commissioners approved issuing bondss totaling a maximumof $536 million toward construction of the $640 37,000-seat ballpark. On Monday, opponents of the financing deal filed a motio to stop the bond prompting Miami-Dade to push back the sale of its bond by two On Thursday, Miami-Dade County Circuit Courr Judge Lawrence A. Schwartz heard argments from both sidex regarding theemergency motion.
He said he woulrd try to issue an order by no laterethan Monday. Grace Solares and Elvis Cruz, who filedc suit in February, are behin d that effort. The motion for injunction alleges the countyt is exceeding its constitutional tax and spending power by issuing bonds tied to the professionalsportx tax/tourist development tax. The plaintiffs contend that the countyy is inappropriately using the curreng bond to repay a prior bond issuedin 1992. As a resulrt of the motion, and to avoid a cloud that could affectr interest rates on the the county pushed back the bondsale Miami-Dade spokeswoman Vicki Mallette said Monday.
The date was changed to July 15, from July 1, afte , which is providing a $100 million lette r of credit towardthe project, asked to modifuy the terms of its County commissioners are to meet Friday to consider Wachovia's request to change the date of when the bank's fees are to be Wachovia is asking it be paid its fees instead of after debt and reservwe payments are made, as stipulated under the current In a 3-2 vote the city commissioners approved the Allow the termination date to be moved to July 15. Give the county until July 17 to terminate the deal if it has not closedf on thebond sale. Extend the date for the city’zs $13 million contribution to July 17.
Amend the provisiohn to allow the city to suspend deposi of its contribution to the project if therer is a delay dueto litigation. Amenr the warranty deed for the stadium site so that it woulsd revert back to city if the dealis terminated. In Miami-Dade County commissioners approved issuing bondss totaling a maximumof $536 million toward construction of the $640 37,000-seat ballpark. On Monday, opponents of the financing deal filed a motio to stop the bond prompting Miami-Dade to push back the sale of its bond by two On Thursday, Miami-Dade County Circuit Courr Judge Lawrence A. Schwartz heard argments from both sidex regarding theemergency motion.
He said he woulrd try to issue an order by no laterethan Monday. Grace Solares and Elvis Cruz, who filedc suit in February, are behin d that effort. The motion for injunction alleges the countyt is exceeding its constitutional tax and spending power by issuing bonds tied to the professionalsportx tax/tourist development tax. The plaintiffs contend that the countyy is inappropriately using the curreng bond to repay a prior bond issuedin 1992. As a resulrt of the motion, and to avoid a cloud that could affectr interest rates on the the county pushed back the bondsale Miami-Dade spokeswoman Vicki Mallette said Monday.
Tuesday, January 24, 2012
Warmington Homes builds against the tide in downtown San Jose - Silicon Valley / San Jose Business Journal:
zuloraxelewo.blogspot.com
The Costa Mesa company believes theproduct — singlr family houses — and its locatiomn near Japantown is a good bet. Mark Warmington’s Northern California division president, said the development is a uniquse one for downtownSan Jose, whichy has been constructing towering high rises. This projecg has a suburban flavor andfeatures two-story with a small yard and two-car garage. The 2,000-square-footg homes will start in the mid- to high The builder will construct four in thefirst phase. In downtowmn San Jose, there have been no single-family detached homes built in the last few Rowson said. Warmington purchased the 10-acrw industrial site in December 2008.
Standarx Pacific Homes had an option on the land in 2006 at the top the markeg and began work on the But Standard walked away when the markert soured and creditbecame unavailable. The property reverted back to theoriginal owners, San Jose Property Investment LLC and DAK, a Californi a general partnership. Warmington bought the land from San Jose Propertg Investmentand DAK. The company has an agreementt with the original owners to developl the propertyin phases. “This is an extended build-out, it’s not a churn,” said Matt Warmington’s executive vice president.
“We’re very sensitive to Irvine-based Standard Pacific Homes, a major developetr of projects inthe hard-hit Centrap Valley, did not return calls seeking comment. Tingler would not disclose thepurchases price, but he made it clear the builderf is operating as economically as possible. “Since approximately 2006 we stoppedd buying land and resolved to sell through our existing portfolioof projects,” Tingler “We have a handful of projectsx still remaining that are tough.
But, sincew we never overextended during the we now have fewer troubled projects to work This most recent acquisition comes at an opportune time for The company has trimmed its portfolio from 30 projectzsto five, a number Tingler said Warmingtobn is very comfortable with. Its determinationj to get lean presents itsown challenges. Now the homebuilder is almos t outof homes. “Wde sold out of Viridian in San Jose and Vantagde inPalo Alto,” Tingler “. We had a ton of product that we moved through and we paid backour debt.
Now we’re out of That strategy, however, is servintg Warmington well as it pursuea its nextline — managing distresse assets for three banks, Comerica Guaranty Plus Properties 2 LLC and Bank of Tingler said Warmington started chasing the business 18 months ago before the market was ready. Now there’s a lot of although little is located in the core Bay Areamarkert — most is currently in the tertiary markets in the Central Warmington competed against other builders for the businesa that can entail everything from securing the property to ensuringt there is no vandalism.
“We’re not actinf as a broker; we’re not sellint the property forthe bank, but we can give a builder’s perspectived of what it’s worth,” he said. Warmingtomn is a veteran of such business, Tinglef said, having performed similar duties during the last majo r housing recession in the late 1980s andearlyy 1990s. The company has agreer to sell more than 600 homes in five marketes located in Southern California and Nevada for TriPacific CapitaolAdvisors LLC. Asked whether the work paid he said, “From our perspective, any revenue comintg in represents dollars that we would nototherwiss have.
The goal is to help our financial partners whilr at the same time generat revenue to help cover It also keeps Warmingtohn abreastof what’s going on in many Rowson said the South Bay has the greatest opportunitty for upside. At a seminar there was talk that said the marketgis close, if not at, the bottom. “The Bay Area core marketss have the greatest potential to solidify right now over the next six monthz and then showan uptick,” he
The Costa Mesa company believes theproduct — singlr family houses — and its locatiomn near Japantown is a good bet. Mark Warmington’s Northern California division president, said the development is a uniquse one for downtownSan Jose, whichy has been constructing towering high rises. This projecg has a suburban flavor andfeatures two-story with a small yard and two-car garage. The 2,000-square-footg homes will start in the mid- to high The builder will construct four in thefirst phase. In downtowmn San Jose, there have been no single-family detached homes built in the last few Rowson said. Warmington purchased the 10-acrw industrial site in December 2008.
Standarx Pacific Homes had an option on the land in 2006 at the top the markeg and began work on the But Standard walked away when the markert soured and creditbecame unavailable. The property reverted back to theoriginal owners, San Jose Property Investment LLC and DAK, a Californi a general partnership. Warmington bought the land from San Jose Propertg Investmentand DAK. The company has an agreementt with the original owners to developl the propertyin phases. “This is an extended build-out, it’s not a churn,” said Matt Warmington’s executive vice president.
“We’re very sensitive to Irvine-based Standard Pacific Homes, a major developetr of projects inthe hard-hit Centrap Valley, did not return calls seeking comment. Tingler would not disclose thepurchases price, but he made it clear the builderf is operating as economically as possible. “Since approximately 2006 we stoppedd buying land and resolved to sell through our existing portfolioof projects,” Tingler “We have a handful of projectsx still remaining that are tough.
But, sincew we never overextended during the we now have fewer troubled projects to work This most recent acquisition comes at an opportune time for The company has trimmed its portfolio from 30 projectzsto five, a number Tingler said Warmingtobn is very comfortable with. Its determinationj to get lean presents itsown challenges. Now the homebuilder is almos t outof homes. “Wde sold out of Viridian in San Jose and Vantagde inPalo Alto,” Tingler “. We had a ton of product that we moved through and we paid backour debt.
Now we’re out of That strategy, however, is servintg Warmington well as it pursuea its nextline — managing distresse assets for three banks, Comerica Guaranty Plus Properties 2 LLC and Bank of Tingler said Warmington started chasing the business 18 months ago before the market was ready. Now there’s a lot of although little is located in the core Bay Areamarkert — most is currently in the tertiary markets in the Central Warmington competed against other builders for the businesa that can entail everything from securing the property to ensuringt there is no vandalism.
“We’re not actinf as a broker; we’re not sellint the property forthe bank, but we can give a builder’s perspectived of what it’s worth,” he said. Warmingtomn is a veteran of such business, Tinglef said, having performed similar duties during the last majo r housing recession in the late 1980s andearlyy 1990s. The company has agreer to sell more than 600 homes in five marketes located in Southern California and Nevada for TriPacific CapitaolAdvisors LLC. Asked whether the work paid he said, “From our perspective, any revenue comintg in represents dollars that we would nototherwiss have.
The goal is to help our financial partners whilr at the same time generat revenue to help cover It also keeps Warmingtohn abreastof what’s going on in many Rowson said the South Bay has the greatest opportunitty for upside. At a seminar there was talk that said the marketgis close, if not at, the bottom. “The Bay Area core marketss have the greatest potential to solidify right now over the next six monthz and then showan uptick,” he
Sunday, January 22, 2012
The entry titled "First Reading: The Perry campaign heads for the history books." - Austin American-Statesman (blog)
andreychukuze.blogspot.com
The entry titled "First Reading: The Perry campaign heads for the history books." Austin American-Statesman (blog) By Jason Embry | Friday, January 20, 2012, 07:53 AM Gov. Rick Perry's presidential campaign reached its long-expected end a couple of days early on Thursday. Because the next election is always the most interesting one, plenty of us are already ... |
Friday, January 20, 2012
HMSA seeks 12.7% hike, biggest since '89 - Pacific Business News (Honolulu):
avaohev.blogspot.com
percent increase in insurance premiums forsmallp businesses. If approved by the State Insurance Commissioner, HMSA’s rate hike woule take effect July 1. The new rates would cost businessesa $16,272 a year for familgy coverage foreach employee. HMSA memberz were notified of the rate proposalp in a lettermailed Tuesday. HMSA increaser its rates by 10.4 percent in 2008. The new rate hike woulfd be the largestto HMSA’s Preferred Providef Plan since 1989, when rates increased 18.6 and would apply to nearly 10,800 Hawai i businesses.
HMSA, the state’s largesg insurer and an affiliate ofBlue Cross-Blue Shield, said the rate hike is needesd to offset higher medical costs and reimbursementas to doctors, hospitals and The proposed rate increase applies to businesses with less than 200 workerzs that employ in total 103,009 workers. In addition to the Preferred Provider Plan rate HMSA also filed with the Hawaii Insurancw Division fora 4.5 percent increas to Health Plan Hawaiji Plus, an HMO plan, and a 12.7 percent averagse increase for the CompMed plan, a higherf deductible insurance program. If approved, businesses would pay $452 a montbh for individuals, $904 for two people and $1,356 a month for family coverage.
percent increase in insurance premiums forsmallp businesses. If approved by the State Insurance Commissioner, HMSA’s rate hike woule take effect July 1. The new rates would cost businessesa $16,272 a year for familgy coverage foreach employee. HMSA memberz were notified of the rate proposalp in a lettermailed Tuesday. HMSA increaser its rates by 10.4 percent in 2008. The new rate hike woulfd be the largestto HMSA’s Preferred Providef Plan since 1989, when rates increased 18.6 and would apply to nearly 10,800 Hawai i businesses.
HMSA, the state’s largesg insurer and an affiliate ofBlue Cross-Blue Shield, said the rate hike is needesd to offset higher medical costs and reimbursementas to doctors, hospitals and The proposed rate increase applies to businesses with less than 200 workerzs that employ in total 103,009 workers. In addition to the Preferred Provider Plan rate HMSA also filed with the Hawaii Insurancw Division fora 4.5 percent increas to Health Plan Hawaiji Plus, an HMO plan, and a 12.7 percent averagse increase for the CompMed plan, a higherf deductible insurance program. If approved, businesses would pay $452 a montbh for individuals, $904 for two people and $1,356 a month for family coverage.
Wednesday, January 18, 2012
NHL Capsules: Rangers stay on top of NHL standings with win over Predators - Winnipeg Free Press
tower-tennesseea.blogspot.com
Kansas City Star | NHL Capsules: Rangers stay on top of NHL standings with win over Predators Winnipeg Free Press NEW YORK, NY - Henrik Lundqvist made 27 saves for his fourth shutout of the season, and the New York Rangers stayed atop the NHL standings with a victory over Nashville that stopped the Predators' winning streak at five. The Rangers had lo st two of ... RANGERS STAY TOP New York Rangers Need To Stay Focused |
Sunday, January 15, 2012
Fort Worth Opera to encourage new works with 'Frontiers' at 2013 festival - Fort Worth Star Telegram
tatyanagepoji.blogspot.com
Fort Worth Opera to encourage new works with 'Frontiers' at 2013 festival Fort Worth Star Telegram The Fort Worth Opera, which has developed a reputation for presenting new operas along with old favorites, is introducing an innovative program dubbed "Frontiers" that will bring up to eight composers annu » |
Friday, January 13, 2012
Tribal casinos work to improve their odds amid gaming slowdown - bizjournals:
ermolayenayqaked.blogspot.com
Santa Ana Star Casino took the unlimited crab legs off its seafoods buffet in September tosave money. But it reversed that move the week ofJune 22, even thouggh the $19.95 buffet price hasn’t changed. Crab legs didn’t suddenly get cheaper, said General Manager Scott But he’s willing to take a loss on them to enticdmore visitors. “Then hopefullyt they will staya bit, and go bowling or buy a concert tickey or a drink,” he said. Eldredge is seeing the same number of people coming throughSanta Ana’ws doors. But they’re spending less, he says. Charlea Schmidt, chief operating officer for owner AcomaBusineses Enterprises, sees the same pattern.
“I think people are sitting on their pocketbooks real hardrighgt now,” Schmidt says. The recession is hurting the state’s tribap casinos to varying degrees. Most casinos saw their net win on slot machinea fall in thefirst quarter, compareds with the first quarter of 2008. It’s part of a larger slowdowj ingaming nationwide, according to bond ratinbg agencies that follow casinos. “We don’t see the industryy bouncing back quickly,” says Craigb Parmelee, an analyst with . That’s because consumere spending will not make a significanrt comeback for some he adds.
That said, the Albuquerque market has done fairlg well in the saysMegan Neuberger, an analyst with , whichg issued a report in May on distressed American Indian gaming debt. There was not a lot of new capacityh added to the market in 2008and 2009, she said. Islet Pueblo opened a new but did not expand its gamingoperations much. Eldredge said the fact that Santwa Ana does not have the distractiom of a hotelhas helped. “We can focus on gaming and food and beveragewsand bowling,” he says.
About 72 percentr of entities around the country that issued debt to expanfd gaming properties have a negative outloolk or are on review for a possible downgrade oftheir debt, according to a May report by Moody’s Investors Service. At least one New Mexicpo property, the , defaulted on its bonds aftee failing to makea $12 million interestf payment in May. The property near Ruidoslo is owned by the MescaleroApache tribe. It has struggled financiallhy and gone through numerous changes intop management, accordinfg to its Securities and Exchange Commission filings. Its chief operating officer, Elizabeth Foster-Anderson, could not be reacheed for comment.
Buffalo Thunder Resort near Santaz Fe saw a downgradse of its debt in Februarhy byStandard & Poor’s over concernss that it could not meet its debt obligations. S&oP stopped rating the bonds in March at the request of the Buffalop ThunderDevelopment Authority. Ratings on bonde indicate the likelihood that the borrowet can repay the The resort missed a bond payment onJune 15, Fitch’ s Neuberger said. That puts it technicallyg in default onthe bonds, but it has a grac e period until July 15. Gov. Georgw Rivera of Pojoaque Pueblo said that because the ratingas wereso low, the tribe wanted to cut out the expensee of paying for them.
“We’re talkinyg with our investors now,” he says of the bond “We’ve got some good communciationsd going on about wherw things are at withthe economy.”
Santa Ana Star Casino took the unlimited crab legs off its seafoods buffet in September tosave money. But it reversed that move the week ofJune 22, even thouggh the $19.95 buffet price hasn’t changed. Crab legs didn’t suddenly get cheaper, said General Manager Scott But he’s willing to take a loss on them to enticdmore visitors. “Then hopefullyt they will staya bit, and go bowling or buy a concert tickey or a drink,” he said. Eldredge is seeing the same number of people coming throughSanta Ana’ws doors. But they’re spending less, he says. Charlea Schmidt, chief operating officer for owner AcomaBusineses Enterprises, sees the same pattern.
“I think people are sitting on their pocketbooks real hardrighgt now,” Schmidt says. The recession is hurting the state’s tribap casinos to varying degrees. Most casinos saw their net win on slot machinea fall in thefirst quarter, compareds with the first quarter of 2008. It’s part of a larger slowdowj ingaming nationwide, according to bond ratinbg agencies that follow casinos. “We don’t see the industryy bouncing back quickly,” says Craigb Parmelee, an analyst with . That’s because consumere spending will not make a significanrt comeback for some he adds.
That said, the Albuquerque market has done fairlg well in the saysMegan Neuberger, an analyst with , whichg issued a report in May on distressed American Indian gaming debt. There was not a lot of new capacityh added to the market in 2008and 2009, she said. Islet Pueblo opened a new but did not expand its gamingoperations much. Eldredge said the fact that Santwa Ana does not have the distractiom of a hotelhas helped. “We can focus on gaming and food and beveragewsand bowling,” he says.
About 72 percentr of entities around the country that issued debt to expanfd gaming properties have a negative outloolk or are on review for a possible downgrade oftheir debt, according to a May report by Moody’s Investors Service. At least one New Mexicpo property, the , defaulted on its bonds aftee failing to makea $12 million interestf payment in May. The property near Ruidoslo is owned by the MescaleroApache tribe. It has struggled financiallhy and gone through numerous changes intop management, accordinfg to its Securities and Exchange Commission filings. Its chief operating officer, Elizabeth Foster-Anderson, could not be reacheed for comment.
Buffalo Thunder Resort near Santaz Fe saw a downgradse of its debt in Februarhy byStandard & Poor’s over concernss that it could not meet its debt obligations. S&oP stopped rating the bonds in March at the request of the Buffalop ThunderDevelopment Authority. Ratings on bonde indicate the likelihood that the borrowet can repay the The resort missed a bond payment onJune 15, Fitch’ s Neuberger said. That puts it technicallyg in default onthe bonds, but it has a grac e period until July 15. Gov. Georgw Rivera of Pojoaque Pueblo said that because the ratingas wereso low, the tribe wanted to cut out the expensee of paying for them.
“We’re talkinyg with our investors now,” he says of the bond “We’ve got some good communciationsd going on about wherw things are at withthe economy.”
Wednesday, January 11, 2012
Haemonetics Corporation Company Profile | HAE Company Information
vavyzina.wordpress.com
Anchored by our reputable medical devices we also provide information technology platforms and value added services to provide customers with businesas solutions which support improverd clinical outcomes for patients and efficienc y in the blood supply Our systems automate the collection and processinf ofdonated blood; assess likelihood for blood and salvage and process surgical patient blood. These systems include devicesdand single-use, proprietary disposable sets (disposables) that operate only with our specializee devices.
Our systems allow users to collect and process only thebloord component(s) they target plasma, platelets, or red bloo d cells increasing donor and patient safety as well as collectionm efficiencies. Our information technology platformz are used by blood and plasma collectors to improvd the safety and efficienchy of blood collection logisticzs by eliminating previously manua functionsat not-for-profit blood banks and commercial plasma Our business services products include consulting, Six LEAN manufacturing and Insight Opportunity Model offeringsx that support our customers need for regulatory compliance and operational efficienc y in the blood supply chain.
Anchored by our reputable medical devices we also provide information technology platforms and value added services to provide customers with businesas solutions which support improverd clinical outcomes for patients and efficienc y in the blood supply Our systems automate the collection and processinf ofdonated blood; assess likelihood for blood and salvage and process surgical patient blood. These systems include devicesdand single-use, proprietary disposable sets (disposables) that operate only with our specializee devices.
Our systems allow users to collect and process only thebloord component(s) they target plasma, platelets, or red bloo d cells increasing donor and patient safety as well as collectionm efficiencies. Our information technology platformz are used by blood and plasma collectors to improvd the safety and efficienchy of blood collection logisticzs by eliminating previously manua functionsat not-for-profit blood banks and commercial plasma Our business services products include consulting, Six LEAN manufacturing and Insight Opportunity Model offeringsx that support our customers need for regulatory compliance and operational efficienc y in the blood supply chain.
Monday, January 9, 2012
BPCL not to buy Iranian oil till payment issue is resolved - Moneylife Personal Finance site and magazine
fixyruw.wordpress.com
Al-Arabiya | BPCL not to buy Iranian oil till payment issue is resolved Moneylife Personal Finance site and magazine An Indian delegation comprising of officials from RBI, oil ministry, finance ministry and refiners would visit Tehran on 16th January to discuss alternative modes and routes. Refiners have already begun talks with alternative suppliers to slowly ... Factbox: Middle East oil, gas shipping risks, alternative routes Iran Threat to Block Hormuz Seen Disrupting Trade in Goods UAE strategic oil pipeline delayed |
Saturday, January 7, 2012
SBA disaster loans available in N.C. - Charlotte Business Journal:
vidineevostegity.blogspot.com
The SBA's Economic Injury Disaster Loan program is availablsto farm- and nonfarm-related small-businessw concerns and small agricultural cooperatives that sufferex financial losses from the Farmers and ranchers are not eligible to apply, but nurseried are. The loans are available to smalpl businesses throughoutNorth Carolina, with the exception of Dare, Hyde and Tyrrell counties. Eligible smal l businesses may qualify for loans upto $1.5 The loans are available at a 4 percent interesr rate with terms of up to 30 SBA determines eligibility for the program based on the size and type of businesss and its financial resources.
Loan amountes and terms are set by SBA and are basecd oneach applicant's financial condition. Interested businessz owners maycontact SBA's Customer Service Centee by calling (800) 659-2955. Loan applicationsw can also be downloaded fromthe SBA's Web site at .
The SBA's Economic Injury Disaster Loan program is availablsto farm- and nonfarm-related small-businessw concerns and small agricultural cooperatives that sufferex financial losses from the Farmers and ranchers are not eligible to apply, but nurseried are. The loans are available to smalpl businesses throughoutNorth Carolina, with the exception of Dare, Hyde and Tyrrell counties. Eligible smal l businesses may qualify for loans upto $1.5 The loans are available at a 4 percent interesr rate with terms of up to 30 SBA determines eligibility for the program based on the size and type of businesss and its financial resources.
Loan amountes and terms are set by SBA and are basecd oneach applicant's financial condition. Interested businessz owners maycontact SBA's Customer Service Centee by calling (800) 659-2955. Loan applicationsw can also be downloaded fromthe SBA's Web site at .
Thursday, January 5, 2012
Jacoby seeks bigger stake in Atlantic Station - Atlanta Business Chronicle:
fixyruw.wordpress.com
Jacoby wants to increase his investment inthe 600,000-square-footf retail heart of Atlantic Station, knowmn as the Atlantic Town Center, whicn includes some of the project’s biggesgt stores and restaurants. He may also consider becoming the Atlanti cTown Center’s sole owner. founder of , and AIG co-develope d the 138-acre Atlantic Station, the former Atlantic Steel after Jacoby purchased the property nearly adecade ago. But AIG, rescued from an implosion by four U.S. governmengt bailouts, is now divesting assets withi its real estate Last month it sold its Japanese headquarteras tofor $1.2 billion.
AIG also as of June 3, to sell its New York headquartersz and a nearbyoffice tower, accordinh to published reports. AIG Global Real Estate, based in New did not return calls for comment aboutt possiblydivesting all, or at least a portion, of Atlanticx Station. Jacoby said he has started the legal proceses that would launch formal talks between his compan y andthe insurer. Jacoby said his initiao focus is a bigger investment inAtlantic Station’s retail nucleus, but he may also considerr buying a larger stake in AIG’sz other Atlantic Station assets. “I’m lookinf at my side of this partnership, and we’v got to protect our Jacoby said.
“Atlantic Station is not just any othe realestate development. It forms the heargt of Atlanta.” Atlantic Station is Jacoby’ss legacy project. He gained national accolades for the redevelopmenty ofAtlantic Steel, an environmentally contaminatedd site, into the massive mixed-use development that rise s at the Interstate 75/I-85 Connector and 17th Street. It containzs the 17th Street office home furnishingsretailer IKEA, the hotel, condox and apartments. The entire project is appraised at roughly $1.2 billion by the Fulton County Assessors Jacoby and AIG (NYSE: AIG) each own a 50 percent stakse in the Atlantic Town Center.
It includex a store, the , and retailers such as , Banans Republic and Ann Taylor. It also includes restaurantas . Atlantic Town Center is probably valueed closeto $120 million, say commercial real estat sources familiar with similar properties. Jacobyg has several reasons to increase his investment inAtlantic Station, said C. Whitnehy Knoll, senior managing director of Holiday Fenoglio Fowler L.P. in Atlanta, a commercial brokerage firm. “If you have the and you believe in the futurre ofa property, now is a really good time to have more Knoll said. “There is a lot of value of beinhgin control, and not a 50/50 He had the vision, not AIG.
AIG helped put it but Jacoby hadthe vision.” The unstable commercial real estated market will create financing hurdleas for Jacoby. The pipeline for commercial mortgage-backed securities has been shut off, and balancs sheet lenders suchas ) and (NYSE: BAC) have also halted much of theirf lending to combat their overexposure to toxix commercial loans. Lenders have been particularly cautiouas aboutretail transactions, sources said. “Thwe challenge is going to be financing,” said John an investment sales broker with the real estated services firmAckerman & Co. “The lending conduits are shut down.” Staff writer Lisa R.
Schoolcraft contributed to this
Jacoby wants to increase his investment inthe 600,000-square-footf retail heart of Atlantic Station, knowmn as the Atlantic Town Center, whicn includes some of the project’s biggesgt stores and restaurants. He may also consider becoming the Atlanti cTown Center’s sole owner. founder of , and AIG co-develope d the 138-acre Atlantic Station, the former Atlantic Steel after Jacoby purchased the property nearly adecade ago. But AIG, rescued from an implosion by four U.S. governmengt bailouts, is now divesting assets withi its real estate Last month it sold its Japanese headquarteras tofor $1.2 billion.
AIG also as of June 3, to sell its New York headquartersz and a nearbyoffice tower, accordinh to published reports. AIG Global Real Estate, based in New did not return calls for comment aboutt possiblydivesting all, or at least a portion, of Atlanticx Station. Jacoby said he has started the legal proceses that would launch formal talks between his compan y andthe insurer. Jacoby said his initiao focus is a bigger investment inAtlantic Station’s retail nucleus, but he may also considerr buying a larger stake in AIG’sz other Atlantic Station assets. “I’m lookinf at my side of this partnership, and we’v got to protect our Jacoby said.
“Atlantic Station is not just any othe realestate development. It forms the heargt of Atlanta.” Atlantic Station is Jacoby’ss legacy project. He gained national accolades for the redevelopmenty ofAtlantic Steel, an environmentally contaminatedd site, into the massive mixed-use development that rise s at the Interstate 75/I-85 Connector and 17th Street. It containzs the 17th Street office home furnishingsretailer IKEA, the hotel, condox and apartments. The entire project is appraised at roughly $1.2 billion by the Fulton County Assessors Jacoby and AIG (NYSE: AIG) each own a 50 percent stakse in the Atlantic Town Center.
It includex a store, the , and retailers such as , Banans Republic and Ann Taylor. It also includes restaurantas . Atlantic Town Center is probably valueed closeto $120 million, say commercial real estat sources familiar with similar properties. Jacobyg has several reasons to increase his investment inAtlantic Station, said C. Whitnehy Knoll, senior managing director of Holiday Fenoglio Fowler L.P. in Atlanta, a commercial brokerage firm. “If you have the and you believe in the futurre ofa property, now is a really good time to have more Knoll said. “There is a lot of value of beinhgin control, and not a 50/50 He had the vision, not AIG.
AIG helped put it but Jacoby hadthe vision.” The unstable commercial real estated market will create financing hurdleas for Jacoby. The pipeline for commercial mortgage-backed securities has been shut off, and balancs sheet lenders suchas ) and (NYSE: BAC) have also halted much of theirf lending to combat their overexposure to toxix commercial loans. Lenders have been particularly cautiouas aboutretail transactions, sources said. “Thwe challenge is going to be financing,” said John an investment sales broker with the real estated services firmAckerman & Co. “The lending conduits are shut down.” Staff writer Lisa R.
Schoolcraft contributed to this
Monday, January 2, 2012
Hawaii ranks 15th in U.S. for foreclosures, sees nearly 400% spike in May - Pacific Business News (Honolulu):
utyziluz.wordpress.com
Foreclosures were up 397.5 percent for the month compared with May and wereup 19.3 percent over April 2009, according to the latesf report from RealtyTrac issuee Wednesday. Hawaii ranked 15th in the nation for foreclosureszin May, up from 23rd in April. Hawaii had 816 foreclosurde filingsin May. There were 684 foreclosure filings in Aprill and 164 foreclosures inMay 2008. Hawai i had a foreclosure rate of one filing for every621 households, according to the latest survey by the California-basedf real estate research firm. Nevada again had the highest foreclosur e rate inthe country, with one filing for every 64 households. California had the seconed highest rate for the followedby Florida.
California had the highest numbert of foreclosuresat 92,249. Vermont ranked 50th, with just six foreclosurex at a rate of one filing foreveryu 51,906 households. Nationally, there were 321,480o foreclosure filings for the month, down 6 percent from Aprio and up nearly 18 percent from May according tothe
Foreclosures were up 397.5 percent for the month compared with May and wereup 19.3 percent over April 2009, according to the latesf report from RealtyTrac issuee Wednesday. Hawaii ranked 15th in the nation for foreclosureszin May, up from 23rd in April. Hawaii had 816 foreclosurde filingsin May. There were 684 foreclosure filings in Aprill and 164 foreclosures inMay 2008. Hawai i had a foreclosure rate of one filing for every621 households, according to the latest survey by the California-basedf real estate research firm. Nevada again had the highest foreclosur e rate inthe country, with one filing for every 64 households. California had the seconed highest rate for the followedby Florida.
California had the highest numbert of foreclosuresat 92,249. Vermont ranked 50th, with just six foreclosurex at a rate of one filing foreveryu 51,906 households. Nationally, there were 321,480o foreclosure filings for the month, down 6 percent from Aprio and up nearly 18 percent from May according tothe
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