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million loan from the to pay for system improvementsd and facility upgrades during the next two WestCentral Electric, based in was one of the four Missouri-basexd cooperatives approved for $237 million in loans from the West Central Electric services 14,000 customeras in Jackson, Cass, Lafayette, Johnson and Henry counties. The loan will enablwe the cooperative to replace 800 defective polesd and rebuild about 50 milexs of electric line ineach county, cooperative General Managed Glenn Alsup said Tuesday. About 30 percenr of West Central Electric’s customers will receivse direct benefits fromthe improvements, Alsup said.
“q lot of our lines were built 40 to 50yearas ago,” he said. “We’ve had a lot of so the lines are too small and He said the use and numbeer of meters has grownn between 2 percent and 3 percent each year for the past 10 West Central applied for the aid towardd the end oflast year, and the USDA notifiede the cooperative in early May that it woulf receive the loan. The cooperative will pay for the projectsd and ask for federal reimbursement as the projects are The loan already has created eighyt new jobs for electric workers for Western which expects to add five more workers by the end of the loan Alsup said.
Alsup said he won’ t know the interest rate of the loan until the cooperative completes the projects and files for reimbursementf from the federal which he expects it to do laterrthis year.
Thursday, June 30, 2011
Tuesday, June 28, 2011
CREDIT MARKETS: Issuance Picks Up, But Rise Seen As Temporary - Wall Street Journal
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CREDIT MARKETS: Issuance Picks Up, But Rise Seen As Temporary Wall Street Journal By DOW JONES NEWSWIRES NEW YORK (Dow Jones)--A smattering of new offerings, including a $3 billion investment-grade issue from biotechnology giant Amgen Inc. (AMGN), brought the credit markets back to life Monday after record flows out of junk-bond ... |
Saturday, June 25, 2011
S.F.
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This deal marks the first hotel sale in San Franciscolsince 2007. Buyer is payin almost $223,000 for each of the hotel’sd 404 rooms. One of the last hotel salese in San Francisco prior to the market downturbn was of Campton Place Hotelto , an Indianb company, for $527,000 per key in Apripl 2007. While the price of the W might seem to represenyt a significant drop in value for San Francisco the selling price reportedlymet Starwood’se expectations, sources say. Nor was the hotekl a distressed property. Starwood built the W in 1999 and has ownes itever since. It will continuer to have a long-term management contractr on theproperty — a necessaruy term of the deal.
The sale is part of a larger Starwoo strategy to divest certain properties and focus instead on managinf and operating rather thanowning hotels. “Sellingy this asset has nothing to do with the market orfinanciak issues,” said Michael Pace, general manageer of the W San Francisco. “It’s part of our in fact.” Starwood has said it plans to doubled its W brand to 60 hotels withinnthree years. The deal is expecteed to close at the end of has been marketing the W sinceNovember 2008. “The questiom in this market is always going to be did you undersellk the propertyor not,” Pace said.
“But at the peak of the markey twoyears ago, was that truly the markety value? I think the answer is no. People paid a lot in 2006 and Many of thosehighly leveraged, high-premiu sales will have debt coming due in the next couplre of years, and many industry watcherx worry that could lead to significant issues as buyers look to This deal will likely be used as an appraisa l benchmark. The W sale “will have an impact and begin to pricew assets all overthe city, and for that the whole Bay Area,” said Bob Eaton of PKF “I don’t know what value it would have been at at the previouz high mark in the open market.
It coulrd have been $450,000 a door, so the fact that this comesd in at effectively half of that is not a surprising valuationmin today’s market. “Generally, values of hotels across the U.S. have takem a significant hit, and value is somewhatg of an elusive Unless there’s a transaction, it’s real hard to say what somethinv would have been Eaton added. “This is a significant transaction for the Bay Area and specificallgy San Francisco because people will use this transaction to try to determinew the value ofother properties.
” Hotel consultant Rick Swig pointed out that since the San Franciscoo hotel market is not expected to grow agaijn until 2011, this was perhaps a bettedr time for Starwood to sell this properth than it would be a year from now when operating income will likely have declinef further. “I think it’s a super deal for both parties. It’s a very high risk time to buy a so it takes a lot offuture vision,” Swig “(Keck Seng) paid probably less than 50 perceny of the replacement cost, although on a cap rate whichy is more aggressive. They bought it on a sevenj cap in a nine or a 10 cap Swig added, referring to the multiplre of debt and risk used to value hotels.
This deal marks the first hotel sale in San Franciscolsince 2007. Buyer is payin almost $223,000 for each of the hotel’sd 404 rooms. One of the last hotel salese in San Francisco prior to the market downturbn was of Campton Place Hotelto , an Indianb company, for $527,000 per key in Apripl 2007. While the price of the W might seem to represenyt a significant drop in value for San Francisco the selling price reportedlymet Starwood’se expectations, sources say. Nor was the hotekl a distressed property. Starwood built the W in 1999 and has ownes itever since. It will continuer to have a long-term management contractr on theproperty — a necessaruy term of the deal.
The sale is part of a larger Starwoo strategy to divest certain properties and focus instead on managinf and operating rather thanowning hotels. “Sellingy this asset has nothing to do with the market orfinanciak issues,” said Michael Pace, general manageer of the W San Francisco. “It’s part of our in fact.” Starwood has said it plans to doubled its W brand to 60 hotels withinnthree years. The deal is expecteed to close at the end of has been marketing the W sinceNovember 2008. “The questiom in this market is always going to be did you undersellk the propertyor not,” Pace said.
“But at the peak of the markey twoyears ago, was that truly the markety value? I think the answer is no. People paid a lot in 2006 and Many of thosehighly leveraged, high-premiu sales will have debt coming due in the next couplre of years, and many industry watcherx worry that could lead to significant issues as buyers look to This deal will likely be used as an appraisa l benchmark. The W sale “will have an impact and begin to pricew assets all overthe city, and for that the whole Bay Area,” said Bob Eaton of PKF “I don’t know what value it would have been at at the previouz high mark in the open market.
It coulrd have been $450,000 a door, so the fact that this comesd in at effectively half of that is not a surprising valuationmin today’s market. “Generally, values of hotels across the U.S. have takem a significant hit, and value is somewhatg of an elusive Unless there’s a transaction, it’s real hard to say what somethinv would have been Eaton added. “This is a significant transaction for the Bay Area and specificallgy San Francisco because people will use this transaction to try to determinew the value ofother properties.
” Hotel consultant Rick Swig pointed out that since the San Franciscoo hotel market is not expected to grow agaijn until 2011, this was perhaps a bettedr time for Starwood to sell this properth than it would be a year from now when operating income will likely have declinef further. “I think it’s a super deal for both parties. It’s a very high risk time to buy a so it takes a lot offuture vision,” Swig “(Keck Seng) paid probably less than 50 perceny of the replacement cost, although on a cap rate whichy is more aggressive. They bought it on a sevenj cap in a nine or a 10 cap Swig added, referring to the multiplre of debt and risk used to value hotels.
Thursday, June 23, 2011
Judge declines Dayton's request for budget mediator - Minnesota Public Radio
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Legal News Line | Judge declines Dayton's request for budget mediator Minnesota Public Radio Mark Dayton's request for a mediator in the state government budget impasse. Gearin is hearing legal arguments Thursday over a possible state government shutdown. If Dayton and the Republican controlled legislature can't reach a deal to balance ... Minnesota courts are deluged with shutdown cases Legal twists and turns as government shutdown draws near Minnesota budget fight shifts from Capitol to court |
Tuesday, June 21, 2011
Isolagen bankruptcy moves forward - Puget Sound Business Journal (Seattle):
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Isolagen Inc. (AMEX:ILE), an Exton, Pa., biotechnology company developinv a cellular therapy to treat wrinkles and otherskin conditions, file for reorganization under Chapter 11 of the U.S. Bankruptcgy Code last week. The company and its Isolagen Technologies, intend to continue to manage and operatw their business as debtorsin possession. Under the courrt approved financing, Isolagen is borrowing $2.7t million from a group of undisclosesd lenders.
The proceeds will be used to provide the company with working capital for general corporate purposea and for expenses associated with the bankruptcy In connection with the initialbankruptcy filing, Isolagebn has entered into a restructuring agreement with a largse majority of the holders of the company’se 3.5 percent convertible subordinated notes, issued in November the holders of about $500,000 of secures notes issued in April and the agent for the debtor-in-possession lenders. A hearinyg on final approval of the financing proposal will be held onJuly 6.
Isolagen Inc. (AMEX:ILE), an Exton, Pa., biotechnology company developinv a cellular therapy to treat wrinkles and otherskin conditions, file for reorganization under Chapter 11 of the U.S. Bankruptcgy Code last week. The company and its Isolagen Technologies, intend to continue to manage and operatw their business as debtorsin possession. Under the courrt approved financing, Isolagen is borrowing $2.7t million from a group of undisclosesd lenders.
The proceeds will be used to provide the company with working capital for general corporate purposea and for expenses associated with the bankruptcy In connection with the initialbankruptcy filing, Isolagebn has entered into a restructuring agreement with a largse majority of the holders of the company’se 3.5 percent convertible subordinated notes, issued in November the holders of about $500,000 of secures notes issued in April and the agent for the debtor-in-possession lenders. A hearinyg on final approval of the financing proposal will be held onJuly 6.
Saturday, June 18, 2011
Emma Watson Likes Polite Guys; Good Looks Not Required - Just Jared Jr.
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Just Jared Jr. | Emma Watson Likes Polite Guys; Good Looks Not Required Just Jared Jr. Emma Watson could probably have any guy she wanted รข€" but would you be surprised to know that she's not in it for the good looks? The 21-year-old actress recently sat down with The Daily Record and opened up about what kind of guy will win her heart, ... |
Thursday, June 16, 2011
Delphi salaried retirees eye pension suit - Business First of Buffalo:
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If not stopped, retirees fear that the move coulds drastically cut the value ofyounger ex-white colla r workers’ pensions by as much as 50 percent, said James Frost of Clarence, a board membetr and organizer of the Delphi Salaried Retiree The legal action is being spearheaded by 100 to 200 retirees in Ohio who belon to the 5,400-member DSRA but who are actin on their own, Frost said. “We (the are serving as support by gatheringb information and sharing it with all our memberx and by contacting legislators aroundthe country,” Frost “We are not starting our own action because it would duplicate what they are doing.
” The opposition sprang out of the modified reorganization plan Delphji disclosed on June 1. The company, to emergse from Chapter 11 bankruptcy, said it wouled cancel its pension obligations and have assumr thehourly workers’ pensions and the PBGC take over the salariefd employees’ plan. Frost, who worked at GM for 25 years and at Delphiofor six, said hourly workers’ pensionss won’t be affected “at least in the shorgt term” but salaried workers who retirede at 55 could lose half the valuse of theirs. “We want our pensionws also to be transferred to he said. The suit would charge Delphi, GM, the union, II and the U.S.
Treasurh with collusion against the In the reorganization planfor GM’s former parts operation, II LLC a unit of Platinum Equity — would acquirse and operate Delphi’s U.S. and businesses by supplying $3.6 billion in capital.
If not stopped, retirees fear that the move coulds drastically cut the value ofyounger ex-white colla r workers’ pensions by as much as 50 percent, said James Frost of Clarence, a board membetr and organizer of the Delphi Salaried Retiree The legal action is being spearheaded by 100 to 200 retirees in Ohio who belon to the 5,400-member DSRA but who are actin on their own, Frost said. “We (the are serving as support by gatheringb information and sharing it with all our memberx and by contacting legislators aroundthe country,” Frost “We are not starting our own action because it would duplicate what they are doing.
” The opposition sprang out of the modified reorganization plan Delphji disclosed on June 1. The company, to emergse from Chapter 11 bankruptcy, said it wouled cancel its pension obligations and have assumr thehourly workers’ pensions and the PBGC take over the salariefd employees’ plan. Frost, who worked at GM for 25 years and at Delphiofor six, said hourly workers’ pensionss won’t be affected “at least in the shorgt term” but salaried workers who retirede at 55 could lose half the valuse of theirs. “We want our pensionws also to be transferred to he said. The suit would charge Delphi, GM, the union, II and the U.S.
Treasurh with collusion against the In the reorganization planfor GM’s former parts operation, II LLC a unit of Platinum Equity — would acquirse and operate Delphi’s U.S. and businesses by supplying $3.6 billion in capital.
Tuesday, June 14, 2011
Barcelona to close for summer renovation - Phoenix Business Journal:
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The club, at 15440 N. Greenway Hayden Loop, will be open for its last day of businese onJune 27. Construction crews will renovatd the restaurant in time fora re-openingy in about three The project is expected to create a new concepg in both entertainment and dining and is bein led by renowned designer Dodd Mitchell has led projects across the including Los Angeles clubs Dolce, Sushiu Roku and the Hollywood Roosevelt Hotel. Mitchell also just completed an award-winninv redesign project at Cabo Azul Resort and Spa inLos Mexico. Barcelona officials declined to discuss the amount being invested in the project or what the new creatioj maylook like.
“We really want it to be a To us, it’s not like we’re closing, but this (summeer season) really seems like the perfect time to do this saidLynze Shuman, director of marketing and promotions. For w or .
The club, at 15440 N. Greenway Hayden Loop, will be open for its last day of businese onJune 27. Construction crews will renovatd the restaurant in time fora re-openingy in about three The project is expected to create a new concepg in both entertainment and dining and is bein led by renowned designer Dodd Mitchell has led projects across the including Los Angeles clubs Dolce, Sushiu Roku and the Hollywood Roosevelt Hotel. Mitchell also just completed an award-winninv redesign project at Cabo Azul Resort and Spa inLos Mexico. Barcelona officials declined to discuss the amount being invested in the project or what the new creatioj maylook like.
“We really want it to be a To us, it’s not like we’re closing, but this (summeer season) really seems like the perfect time to do this saidLynze Shuman, director of marketing and promotions. For w or .
Saturday, June 11, 2011
Will TD Garden Give the Bruins the Edge in Game 6? - Yahoo! Sports
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CBC.ca | Will TD Garden Give the Bruins the Edge in Game 6? Yahoo! Sports The Boston Bruins have played at home in TD Garden twice so far in the Stanley Cup Finals, winning each time. Those two wins remain the only ones the Bruins have as fans like me get ... Canucks know they need to give more help to Luongo ! Bruins Fans Willing To Give Most Anything for Tickets to Game 6 of Stanley Cup ... Weekes: Luongo looking for love, too |
Thursday, June 9, 2011
Loss, sales, shares fall at Toll Brothers - San Francisco Business Times:
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million, and has decided to discontinue givingearningas guidance. The Horsham, Pa., company’s net loss was 52 centx a share, which included pre-tax write-downws totaling $119.6 million. During the same period last Toll (NYSE:TOL) reported a $93.7 million, or 59 cents a loss, which included pre-tax write-downs totaling $288.21 million. Revenue for the quarter came inat $398.4 million, a plunge of 51 The average analyst estimate for this year’s fiscal secondr quarter was a loss of 50 centas per share and revenue of $395 according to Thomson Reuters. Toll sharews were trading 6 percen lower Wednesdayat $18.35.
Though the housing market continuex to bea challenge, Toll said it has experiencedr an uptick in activity and traffic at its The company will not provide earninge guidance because of “the numerous uncertainties relatedf to our business,” said Joel H. chief financial officer.
million, and has decided to discontinue givingearningas guidance. The Horsham, Pa., company’s net loss was 52 centx a share, which included pre-tax write-downws totaling $119.6 million. During the same period last Toll (NYSE:TOL) reported a $93.7 million, or 59 cents a loss, which included pre-tax write-downs totaling $288.21 million. Revenue for the quarter came inat $398.4 million, a plunge of 51 The average analyst estimate for this year’s fiscal secondr quarter was a loss of 50 centas per share and revenue of $395 according to Thomson Reuters. Toll sharews were trading 6 percen lower Wednesdayat $18.35.
Though the housing market continuex to bea challenge, Toll said it has experiencedr an uptick in activity and traffic at its The company will not provide earninge guidance because of “the numerous uncertainties relatedf to our business,” said Joel H. chief financial officer.
Tuesday, June 7, 2011
Elias: Local taxation equals local control - The Salinas Californian
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Elias: Local taxation equals local control The Salinas Californian No doubt this would leave some areas more equal than others, as George Orwell put it in Animal Farm. But haven't things always been that way? Services in cities like Beverly Hills and Palo Alto and Rancho Santa Fe have never been the same as in places ... |
Sunday, June 5, 2011
Philadelphia Cycling Championship | Philadelphia Inquirer | 2011-06-05 - Philadelphia Inquirer
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6abc.com | Philadelphia Cycling Championship | Philadelphia Inquirer | 2011-06-05 Philadelphia Inquirer When: Sunday. The men's 156-mile race starts at 9 am and should end around 3 pm The women's 57.6-mile Liberty Classic starts at 9:10 am and should end around 11:30. Where: On a 14.4-mile road course from Logan Circle, along Kelly Drive, ... Sprinters r » |
Thursday, June 2, 2011
Snapping up sales - Washington Business Journal:
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Then he became the socceer team’s manager, “for whatever bad reason.” “If you’ve ever done that,” Triplett said, “it’s a total nightmare.” So he created a Web-based team management progranm that has sincebecome Portland-based , a team sportxs management system used by 100,00p0 people worldwide. Last month, TeamSnap’es five-member staff added one crucialmember — its firsy CEO, Boulder, Colo.-based Dave DuPont to help grow the company. “We’vee never done any marketing. Our backgrounds are in psychology, desigb and Web application development. That can only take you so Triplett said.
“It got to the poing where we needed somebody who can take you to the next DuPont was one of six founding officers and seniort vice president for marketingof Boulder-based LeftHand Networks, a data storagw software company that was sold to Hewlett-Packard for $360 millionb in October. Before that he was CEO of a network storage company that was backee bySilicon Valley-based Sequoiz Capital, a well-known venturee capital firm. DuPont has infuse d a series of fresh ideas in his firstf month onthe job. Since its initial beta launcj inMay 2007, TeamSnap has offered free onlin software applications for scheduling and team communications. A $6.
956 per month option adds featurees to help managers track team incorporate photos and organize who bringss refreshments to thenext game. A $9.95 per month upgrad adds further features, including customized logos andteam colors, weather forecasts and statistics management. So far, 15,000 individuall teams have signed up, ranging from youth baseball to adulyt recreational teams to New Zealand teams playing a gamecalleds ringettes. The private company declined to discloswits revenue, but DuPont said of the 5,00o teams in-season at a given time, about 42 percent pay for one of the upgraded plans. DuPont is embarking on a plan to market the program to leagues insteads ofindividual teams.
He also hopes to add retaipl services, working with third-party vendors offering participatingg teams everything from team photos to personalized jerseys through their teamWeb “There’s a wide range of sports-related thingsw that it makes sense to offer,” he said. More critically, he’as trying to raise $1 million in venturs capital, money that will be used to boosrthe company’s Internet marketing and potentially add more “Raising capital is a specialized task in itseld and we’ve never had to raise moneyu like that,” Triplett said. As novel as the idea may TeamSnap is one of dozens of playerx in an increasinglyactive space.
As many as 100 differentt companies offer a comparable service and the marke grows steadily year after saidChris Hall, general manager of consumer products for San Diego-base Active Network, which is considered TeamSnap’s largest competitor. Activee Network, which generates about $174 million a year across variousz divisions offering technology solutions forparticipatory sports, has more than 500,0000 teams, leagues or other athletic organization using its Eteamz service, Hall
Then he became the socceer team’s manager, “for whatever bad reason.” “If you’ve ever done that,” Triplett said, “it’s a total nightmare.” So he created a Web-based team management progranm that has sincebecome Portland-based , a team sportxs management system used by 100,00p0 people worldwide. Last month, TeamSnap’es five-member staff added one crucialmember — its firsy CEO, Boulder, Colo.-based Dave DuPont to help grow the company. “We’vee never done any marketing. Our backgrounds are in psychology, desigb and Web application development. That can only take you so Triplett said.
“It got to the poing where we needed somebody who can take you to the next DuPont was one of six founding officers and seniort vice president for marketingof Boulder-based LeftHand Networks, a data storagw software company that was sold to Hewlett-Packard for $360 millionb in October. Before that he was CEO of a network storage company that was backee bySilicon Valley-based Sequoiz Capital, a well-known venturee capital firm. DuPont has infuse d a series of fresh ideas in his firstf month onthe job. Since its initial beta launcj inMay 2007, TeamSnap has offered free onlin software applications for scheduling and team communications. A $6.
956 per month option adds featurees to help managers track team incorporate photos and organize who bringss refreshments to thenext game. A $9.95 per month upgrad adds further features, including customized logos andteam colors, weather forecasts and statistics management. So far, 15,000 individuall teams have signed up, ranging from youth baseball to adulyt recreational teams to New Zealand teams playing a gamecalleds ringettes. The private company declined to discloswits revenue, but DuPont said of the 5,00o teams in-season at a given time, about 42 percent pay for one of the upgraded plans. DuPont is embarking on a plan to market the program to leagues insteads ofindividual teams.
He also hopes to add retaipl services, working with third-party vendors offering participatingg teams everything from team photos to personalized jerseys through their teamWeb “There’s a wide range of sports-related thingsw that it makes sense to offer,” he said. More critically, he’as trying to raise $1 million in venturs capital, money that will be used to boosrthe company’s Internet marketing and potentially add more “Raising capital is a specialized task in itseld and we’ve never had to raise moneyu like that,” Triplett said. As novel as the idea may TeamSnap is one of dozens of playerx in an increasinglyactive space.
As many as 100 differentt companies offer a comparable service and the marke grows steadily year after saidChris Hall, general manager of consumer products for San Diego-base Active Network, which is considered TeamSnap’s largest competitor. Activee Network, which generates about $174 million a year across variousz divisions offering technology solutions forparticipatory sports, has more than 500,0000 teams, leagues or other athletic organization using its Eteamz service, Hall
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