Armenian side distorts facts, falsifies documents and uses other incriminating ... SIA INFORMATION AGENCY It has already been proved that under the influence of the separatist ideas of the ideologists of Armenian nationalism - Shakhnazarov, Aganbekyan, Kaputikyan, Balayan - Mikhail Gorbachev provided support to Armenian separatists and nationalists while ... |
Wednesday, February 29, 2012
Armenian side distorts facts, falsifies documents and uses other incriminating ... - SIA INFORMATION AGENCY
obofym.wordpress.com
Monday, February 27, 2012
NASCAR hoping to race Daytona 500 in primetime, with rain still lingering - The Star-Ledger - NJ.com
http://mortgageloans-usa.net/category/loans-bail-housing/
The Star-Ledger - NJ.com | NASCAR hoping to race Daytona 500 in primetime, with rain still lingering The Star-Ledger - NJ.com Are you ready for some racing -- some Monday night racing? NASCAR pushed the start of its season-opening Daytona 500 to this evening, under the lights and in primetime for the first time in its history. "We hope to have 'Lady and gentlemen, ... Auto racing: Daytona 500 scheduled to start at 6 pm |
Saturday, February 25, 2012
The Navigator: Frequent-flier programs' rules spur boom in 'mileage consultants' - Washington Post
http://www.breastcancerremoval.com/effects-breast-cancer-can-have-on-your-sex-life.php
The Navigator: Frequent-flier programs' rules spur boom in 'mileage consultants' Washington Post Ryan Lile runs the Savvy Traveler (www.savvytravel.net), a Los Angeles-based company that helps frequent travelers turn their points into tickets. He charges clients $75 an hour for services that also include travel management, advice on accumulating ... |
Thursday, February 23, 2012
Sunset Self Storage in Winton, California Adds U-Haul Rentals - Bradenton Herald
gonyzyf.wordpress.com
Sunset Self Storage in Winton, California Adds U-Haul Rentals Bradenton Herald 22, 2012 /PRNewswire/ -- Suneet Singal, owner of Sunset Self Storage, located at 6089 N. Winton Way, recently added Uâ€'Haul truck and trailer rentals to the self-storage business he has been operating since 2003. Sunset Self Storage has storage units ... |
Tuesday, February 21, 2012
ESPN Zone closes doors in Denver - Washington Business Journal:
esivyjifag.wordpress.com
The ESPN Zone, part of a nationwide chain of what used to be nine ofthe sports-themed bar and interactiv game centers across the country, laid off roughly 100 giving each a 60-day administrative leavew package, according to a company statement. Rick Allesandri, an ESPN vice president who overseesZone operations, said in the statemeny that the restaurant could not survive the This economic downturn has been marked nationally by reducefd consumer spending on eating out and on entertainmenyt activities. “A decision like this is nevefr easy. We recognize and appreciatr the commitment and years of service of all of these employees,” Allesandri said.
“Unfortunately, the current economic environment offered us noother choice.” The ESPN Zone was a 23,000-square-footg meeting place for sports fanatics, with one room featuringb more than a dozen large televisions tunesd into contests of all kind and another full of videl and sports games ranging from basketbalo to bowling. None of the eight othed ESPN Zone locations willbe closed, as all “arde meeting our expectations,” said Matt Kovacs, a spokesmen for the , which owns the Tabor issued a statement saying it was “sorry to hear of their decision to discontinuer their Denver operations.
” But the closinb of ESPN Zone “has created a new opportunith for us to bring new conceptas to 16th Street,” it said. One of thosre new concepts is TheTilted Kilt, a Celtic-themefd restaurant and sports bar with 20 locations operating nationwide and another 10 The chain, which is expected to open its Denver locationb this fall and to offefr outdoor patio seating, has signed an 8,300-square-foot lease at Tabof Center, according to a news release.
The Tiltes Kilt began in Las Vegas in 2003 and is notexd for its servers dressedin knee-highj socks, short plaid kilts and midriff-baring plaid halter It will be one of a number of new tenant s opening in the Tabor Center this year. “Thesde new additions to Tabor Center’s retaik offering reflect our continuing efforts to enhancre the services and amenities forthe tenants, customers and visitors to the Tabor said Steve Budorick, executivd vice president and partner at Callahan Capital
The ESPN Zone, part of a nationwide chain of what used to be nine ofthe sports-themed bar and interactiv game centers across the country, laid off roughly 100 giving each a 60-day administrative leavew package, according to a company statement. Rick Allesandri, an ESPN vice president who overseesZone operations, said in the statemeny that the restaurant could not survive the This economic downturn has been marked nationally by reducefd consumer spending on eating out and on entertainmenyt activities. “A decision like this is nevefr easy. We recognize and appreciatr the commitment and years of service of all of these employees,” Allesandri said.
“Unfortunately, the current economic environment offered us noother choice.” The ESPN Zone was a 23,000-square-footg meeting place for sports fanatics, with one room featuringb more than a dozen large televisions tunesd into contests of all kind and another full of videl and sports games ranging from basketbalo to bowling. None of the eight othed ESPN Zone locations willbe closed, as all “arde meeting our expectations,” said Matt Kovacs, a spokesmen for the , which owns the Tabor issued a statement saying it was “sorry to hear of their decision to discontinuer their Denver operations.
” But the closinb of ESPN Zone “has created a new opportunith for us to bring new conceptas to 16th Street,” it said. One of thosre new concepts is TheTilted Kilt, a Celtic-themefd restaurant and sports bar with 20 locations operating nationwide and another 10 The chain, which is expected to open its Denver locationb this fall and to offefr outdoor patio seating, has signed an 8,300-square-foot lease at Tabof Center, according to a news release.
The Tiltes Kilt began in Las Vegas in 2003 and is notexd for its servers dressedin knee-highj socks, short plaid kilts and midriff-baring plaid halter It will be one of a number of new tenant s opening in the Tabor Center this year. “Thesde new additions to Tabor Center’s retaik offering reflect our continuing efforts to enhancre the services and amenities forthe tenants, customers and visitors to the Tabor said Steve Budorick, executivd vice president and partner at Callahan Capital
Sunday, February 19, 2012
Benchmark lures Centex lenders; on pace with
savimy.blogspot.com
McMahan is one of about 30 peopler nationally who have justjoinedc Dallas-based Benchmark from ’s retail mortgage “In this next phase of my career, small feels really good to said McMahan, who also runs his own mortgagse lender training service. Centex announced plans in February to sell off its retailomortgage operations. After a deal to sell the wholed group to private equity firm fell Centex began selling off its retail officesin groups. Plano-based snapped up eight retail mortgage production offices at the start of Benchmark was founded in 1999as Ark-La-Tex Financiaol Services LLC.
Although smaller than the nine-year-old company has a national It employs about 50 in its mainDallaw office, as well as affiliated loan officers in 170 locationsx nationally. Roughly 30 former Centex lenders and support stafgf moved to Benchmark alongwith McMahan. Mortgagr applications nationally are downdramatically — 28.6 lower for the first week of October comparedf with the same time in 2007, accordingh to the Mortgage Bankers Association. Yet Benchmark Mortgage is close to hittint its 2007 pace in terms of mortgages McMahan attributes that to a system that allows loan officers to focuzs on selling and keeps paperwork at thehome “We have a very efficient, lean he said.
‘Whack the consumer’ Keepinfg costs down for loan officers meanse more room for commissions for those and a better chance for them to focuw on the fundamentals ofmortgage lending. That’ s an essential in the currenyt climate formortgage lending. “I cut my teethy in the S&L crisis,” McMahan “The biggest difference now is that these othed downturns were so much on thecorporatr side. This time, it’s reallty going to whack the Kevin Miller, president and CEO of , says he’xs preparing for the toughest winterf in mortgage lendingin decades.
The only cure for fallingy home prices is for consumers to beginn buying homes again in significant he said. “When people decide they’re goinh to buy houses, they’re goinb to help our economy,” he said. To weather the Miller has slowed hiring and is focusingh on controlling spending at Texas Although there are fewer optionsavailabld now, Miller agreed that qualified borrowers can get a home “All we can do is answerr the phones, and help peopld get mortgages,” he said. McMahan said focusing on the fundamentals will help mortgagee lenders through thisextraordinary downturn. “Yoju go back to basics.
Sit down with a Realtor and say, ‘Giv e me your prospects, and I’ll help them get readty to buya home,’ he said. McMahan’s message for potential “You can get a loan, but you’ve got to be qualified, and you’ves got to deal with a
McMahan is one of about 30 peopler nationally who have justjoinedc Dallas-based Benchmark from ’s retail mortgage “In this next phase of my career, small feels really good to said McMahan, who also runs his own mortgagse lender training service. Centex announced plans in February to sell off its retailomortgage operations. After a deal to sell the wholed group to private equity firm fell Centex began selling off its retail officesin groups. Plano-based snapped up eight retail mortgage production offices at the start of Benchmark was founded in 1999as Ark-La-Tex Financiaol Services LLC.
Although smaller than the nine-year-old company has a national It employs about 50 in its mainDallaw office, as well as affiliated loan officers in 170 locationsx nationally. Roughly 30 former Centex lenders and support stafgf moved to Benchmark alongwith McMahan. Mortgagr applications nationally are downdramatically — 28.6 lower for the first week of October comparedf with the same time in 2007, accordingh to the Mortgage Bankers Association. Yet Benchmark Mortgage is close to hittint its 2007 pace in terms of mortgages McMahan attributes that to a system that allows loan officers to focuzs on selling and keeps paperwork at thehome “We have a very efficient, lean he said.
‘Whack the consumer’ Keepinfg costs down for loan officers meanse more room for commissions for those and a better chance for them to focuw on the fundamentals ofmortgage lending. That’ s an essential in the currenyt climate formortgage lending. “I cut my teethy in the S&L crisis,” McMahan “The biggest difference now is that these othed downturns were so much on thecorporatr side. This time, it’s reallty going to whack the Kevin Miller, president and CEO of , says he’xs preparing for the toughest winterf in mortgage lendingin decades.
The only cure for fallingy home prices is for consumers to beginn buying homes again in significant he said. “When people decide they’re goinh to buy houses, they’re goinb to help our economy,” he said. To weather the Miller has slowed hiring and is focusingh on controlling spending at Texas Although there are fewer optionsavailabld now, Miller agreed that qualified borrowers can get a home “All we can do is answerr the phones, and help peopld get mortgages,” he said. McMahan said focusing on the fundamentals will help mortgagee lenders through thisextraordinary downturn. “Yoju go back to basics.
Sit down with a Realtor and say, ‘Giv e me your prospects, and I’ll help them get readty to buya home,’ he said. McMahan’s message for potential “You can get a loan, but you’ve got to be qualified, and you’ves got to deal with a
Friday, February 17, 2012
Cases increase for business turnaround specialists - Business First of Columbus:
xoqylyjibo.wordpress.com
Company owners may be too clos to the situation tosee what’s reallh going on in their business, or so exasperated that they’re ready to give up. That’s when they hire turnaroune specialists. “We go in, do the triagse that’s required, stopping the bleeding and making sure thepatient survives,” said Rich managing director of the Denver office of restructurinfg firm Alvarez and Marsal, and 2009 presideny of the ’s Denver chapter. “Fronm there, we identify the areas where we can cut costs in thenear term, then go diagnose the bigger problem.
” The local TMA chapte r is composed of turnaround practitioners, lenders, attorneys, financial specialists, operations specialists and other professionals. The chapterd has almost 190 members and holds meetings on the last Wednesdauy of each month at the DenverAthletiv Club. The chapter offersx educational programs as well asnetworking “Turnaround managers or restructuring officers are specially trained,” said Jim a member of the law firm of LLC in and immediate past president of the locao TMA chapter.
“Their expertise is in lookinf at and helping companies to best manage their For example, look at the core operating divisiobn of a business — some of them might be pulling down the businesa because they’re losing money, and othert units are profit centers. “A good turnaround officerd will help owners focus on the and look for portions of the businesss that can stand ontheir own, as opposed to those that are losing money and don’t have a viabled chance of succeeding. [Theyy concentrate on] how they can get a companyy where they can have positivecash flow.” There’se plenty of turnaround work out thers right now.
“There seem to be a lot more [troubled than there used to be, and the problemxs are harder to solve than they used to Markus said. It was much easiert to find financing before therecessionn hit, he said, citing sourceas such as banks, asset-based lenders (factor and private funding sources such as privater equity funds, distressed opportunity funda and hedge funds. • r2 advisors llc won a TMA awardr for work it performed for alocalp company. Tom Kim, a bankruptcy lawyer who is the firm’sx senior managing director, said he was broughft in after a troubled company had idlerd its manufacturing plant and facedr heavycredit pressure.
“Once we figuredc out that [the business model] could stil l work, we had to figur out sources of cash and how we wouldspends it,” he said. Also, he helperd ease the debt negotiating longer terms onexisting 30-, 60- and 90-dayh arrangements. The company was righted, and about 18 months later, the owner sold most of it and becames aminority owner. “And now the company is doing just Kim said. • Sometimes a business or senior management, is too close to the situatiomn to unearth the root causesof problems.
A bank aske d Bill Mackenzie, managing directo of Denver-based LLC, to liquidats a company, because the bank had lost confidence inthe borrower’sa ability to survive. After the initiak meeting, “I said, ‘give us two weeks to see if liquidation is the only he said. “‘Maybe we can come to anothefr solution.’” After two weeks of study, Mackenzise told the bank and the borrower thathe didn’tr think liquidation was in anyone’s best interest. Then he begamn searching for the borrower’s “hook”— “What in the businesz model has a unique edgeto it?” he “What is it that may allow the companyh to survive?
” He found it, somethinhg that would be valuable to potential The borrower had legacy arrangementx — grandfather clauses dating to the company’s start in whicgh suppliers gave it discounts of 10 percenrt to 15 percent. “These agreementxs allowed the company to get substantial discountxs fromtheir purchases,” Mackenzie said. “And anybody that acquiredr the company would benefit fromthosr contracts. That gave them a competitives edge.
” Bottom line: They sold the company within threemonths — enablinbg 125 employees to keep their Then there are business ownersz who simply give up and walk and decide to liquidate their “That doesn’t help anybody,” Markus said. “When a business shutws its doors, the assets get auctioned off and all the employeesare fired. We try to find ways to restructurs a businessso there’s greater value.” company owners wait too long to seek help. “Thag is not uncommon,” Markus said. “A lot of times, businesses wait too and their options become muchtoo limited.
In the restructuring the earlier we canget involved, the better the chanc we can find the solution.”
Company owners may be too clos to the situation tosee what’s reallh going on in their business, or so exasperated that they’re ready to give up. That’s when they hire turnaroune specialists. “We go in, do the triagse that’s required, stopping the bleeding and making sure thepatient survives,” said Rich managing director of the Denver office of restructurinfg firm Alvarez and Marsal, and 2009 presideny of the ’s Denver chapter. “Fronm there, we identify the areas where we can cut costs in thenear term, then go diagnose the bigger problem.
” The local TMA chapte r is composed of turnaround practitioners, lenders, attorneys, financial specialists, operations specialists and other professionals. The chapterd has almost 190 members and holds meetings on the last Wednesdauy of each month at the DenverAthletiv Club. The chapter offersx educational programs as well asnetworking “Turnaround managers or restructuring officers are specially trained,” said Jim a member of the law firm of LLC in and immediate past president of the locao TMA chapter.
“Their expertise is in lookinf at and helping companies to best manage their For example, look at the core operating divisiobn of a business — some of them might be pulling down the businesa because they’re losing money, and othert units are profit centers. “A good turnaround officerd will help owners focus on the and look for portions of the businesss that can stand ontheir own, as opposed to those that are losing money and don’t have a viabled chance of succeeding. [Theyy concentrate on] how they can get a companyy where they can have positivecash flow.” There’se plenty of turnaround work out thers right now.
“There seem to be a lot more [troubled than there used to be, and the problemxs are harder to solve than they used to Markus said. It was much easiert to find financing before therecessionn hit, he said, citing sourceas such as banks, asset-based lenders (factor and private funding sources such as privater equity funds, distressed opportunity funda and hedge funds. • r2 advisors llc won a TMA awardr for work it performed for alocalp company. Tom Kim, a bankruptcy lawyer who is the firm’sx senior managing director, said he was broughft in after a troubled company had idlerd its manufacturing plant and facedr heavycredit pressure.
“Once we figuredc out that [the business model] could stil l work, we had to figur out sources of cash and how we wouldspends it,” he said. Also, he helperd ease the debt negotiating longer terms onexisting 30-, 60- and 90-dayh arrangements. The company was righted, and about 18 months later, the owner sold most of it and becames aminority owner. “And now the company is doing just Kim said. • Sometimes a business or senior management, is too close to the situatiomn to unearth the root causesof problems.
A bank aske d Bill Mackenzie, managing directo of Denver-based LLC, to liquidats a company, because the bank had lost confidence inthe borrower’sa ability to survive. After the initiak meeting, “I said, ‘give us two weeks to see if liquidation is the only he said. “‘Maybe we can come to anothefr solution.’” After two weeks of study, Mackenzise told the bank and the borrower thathe didn’tr think liquidation was in anyone’s best interest. Then he begamn searching for the borrower’s “hook”— “What in the businesz model has a unique edgeto it?” he “What is it that may allow the companyh to survive?
” He found it, somethinhg that would be valuable to potential The borrower had legacy arrangementx — grandfather clauses dating to the company’s start in whicgh suppliers gave it discounts of 10 percenrt to 15 percent. “These agreementxs allowed the company to get substantial discountxs fromtheir purchases,” Mackenzie said. “And anybody that acquiredr the company would benefit fromthosr contracts. That gave them a competitives edge.
” Bottom line: They sold the company within threemonths — enablinbg 125 employees to keep their Then there are business ownersz who simply give up and walk and decide to liquidate their “That doesn’t help anybody,” Markus said. “When a business shutws its doors, the assets get auctioned off and all the employeesare fired. We try to find ways to restructurs a businessso there’s greater value.” company owners wait too long to seek help. “Thag is not uncommon,” Markus said. “A lot of times, businesses wait too and their options become muchtoo limited.
In the restructuring the earlier we canget involved, the better the chanc we can find the solution.”
Wednesday, February 15, 2012
Business groups slam proposed tax increases - Portland Business Journal:
yvejodo.wordpress.com
The said it opposes changes to the corporateminimumm tax, a new corporate income tax and a new personal incomse tax. The alliance consists of 30 busines s groups that represent morethan 25,000 Oregon businessew and employ 500,000 residents. Raisinbg the taxes could cause the stat e tolose 6,000 according to state revenue office estimates. “These proposal ignore the stark realities of ourcurrenrt recession,” the group said in a news release sent by J.L. a lobbyist with Associated Oregon “They are counterproductive measures that kill jobs and prolongyour recession.
” The corporate minimum tax and corporate income tax proposals would collectively harm companied with small profit margins as well as businesses lookingv to invest more in capitall equipment, the group The alliance called on lawmakers to instead focus on private-sector job retention and creation. “We believe strongly that increasesd taxes are detrimental to job Wilson said in thenews “An increased tax burden will hurt the ability of our membersz to create desperately needed It is the wronvg approach to balance the state’s Other groups signing the letter include Associatef Oregon Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregon Association of the Oregon Automobile Dealersa Association, the Oregon Bankers Association, the Oregon Home Buildersz Association, the Oregon Restaurant Association and the Oregoj Trucking Association.
Oregon’s House and Senate members hope to adjourbn byJuly 1. Lawmakers must address a $4.2 billion budget shortfall before they adjourhn or in a series of special sessions throughoutr the rest ofthe year.
The said it opposes changes to the corporateminimumm tax, a new corporate income tax and a new personal incomse tax. The alliance consists of 30 busines s groups that represent morethan 25,000 Oregon businessew and employ 500,000 residents. Raisinbg the taxes could cause the stat e tolose 6,000 according to state revenue office estimates. “These proposal ignore the stark realities of ourcurrenrt recession,” the group said in a news release sent by J.L. a lobbyist with Associated Oregon “They are counterproductive measures that kill jobs and prolongyour recession.
” The corporate minimum tax and corporate income tax proposals would collectively harm companied with small profit margins as well as businesses lookingv to invest more in capitall equipment, the group The alliance called on lawmakers to instead focus on private-sector job retention and creation. “We believe strongly that increasesd taxes are detrimental to job Wilson said in thenews “An increased tax burden will hurt the ability of our membersz to create desperately needed It is the wronvg approach to balance the state’s Other groups signing the letter include Associatef Oregon Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregon Association of the Oregon Automobile Dealersa Association, the Oregon Bankers Association, the Oregon Home Buildersz Association, the Oregon Restaurant Association and the Oregoj Trucking Association.
Oregon’s House and Senate members hope to adjourbn byJuly 1. Lawmakers must address a $4.2 billion budget shortfall before they adjourhn or in a series of special sessions throughoutr the rest ofthe year.
Sunday, February 12, 2012
Washington Convention Center Authority wants city to finance $550M hotel - Washington Business Journal:
adepylex.blogspot.com
On May 29 the convention center’sw board directed CEO Greg O’Dell to seek authority for the sale of as muchas $750 millionh in bonds to cover the price of the interest during construction, insurance and other The city had planned to finance about 25 percent of the cost of the hotepl through a $187 million tax increment financingy package the passed in 2006, whichn would have provided $134 millionb in construction costs. The rest was supposedc to come from private debt and equitytpartners -- a difficult find in the frozen credift markets. O’Dell said development partnerw and Capstone Development had been dogged but unsuccessful in their pursuift of investorsfor months.
“They’ve been pursuing private financinyg and in this you know, that is very difficult. They’ve spenf millions of dollars on this project to try to move it It really is shovel ready with the exceptionof financing,” O’Dell With the city losing convention he said, building a city-owned hotel was the best He envisions it will still contain aboutf 1,100 rooms and be operated by Marriotg had previously said it would be a Marriot Marquis. O'Dell began briefing members ofthe D.C. Councip on the board’s proposal Monday. “Our ultimate goal is to get this project done and get it startedx as soonas possible,” he said.
In particular thers is increased pressure from Nationao Harbor inPrince George’s County, which opened last year with a pricwe tag of more than $2 Its developer, the Peterson Cos. announcef May 18 that the WaltDisney Co. had purchased land to buil d a 500-room resort hotel on 15 acresx there. Convincing the council to approve that amountof however, will be a tall task for O’Dell. He had been consideree a top candidate to replace Neil Albert as deputyt mayor for planning andeconomic development, but a source closs to O'Dell says he was offered the job and turnedx it down. O’Dell would not confirm that, but indicated he would remain in hiscurrentf post.
“The board and the mayord have every expectation of me completing all the task Ihave here,” he said. The convention centef authority has an independent board and the abilitu toissue bonds, but O’Dell said the council would need to expanxd its authority to issue bonds for the hotel. The councill and D.C. Mayor Adrian Fenty just finished closing a budget gapof $800 milliob for fiscal 2010 and the city faces a gap approachingb $1 billion for fiscal 2011. In D.C.
Chief Financial Officer Natwar Gandhk said he will not supporyt issuing that amountof debt, which he said woulfd immediately violate a 12 percent cap on city debt as a mark of expenditures the city created on his recommendation last Gandhi is a member of the conventiobn center board and attended the Friday “To be very blunt about it I was very cleae in saying to them that if you were to borrow $750 million that would put us way beyond the 12 percenty cap we have envisioned for the city...ansd I cannot be a partyy to that,” Gandhi said.
The CFO said that he “very wants a hotel for the city, “but I woulcd not agree to a deal like See we made a commitment to Wall Streer that we would not borrow more than 12 percentt againstour budget.” Gandhi, who has won accoladews for helping the city snag a AAA bond ratinhg on Wall Street, said he has already begun re-emphasizinf the importance of the debt cap with memberss of the council. “Iu do not think we want to takethis lightly. We shoulcd not borrow any more than we are able to he said. He suggested that O’Dell and his partners continue to seek privatefinancingy sources.
Building a hotel to accompan y the convention center has always been part of the plan for the city but has languishefd from a series of Construction on theWalter E. Washington Convention Center, as it was named in 2007, began in 1998 and opened fiveyears later. D.C. planned a 1,400-room but did not controp the needed land. In 2007, the city gainec final site control afterf a land swap with developer KingdonGould III. To preventy further delays Mayor Adrian Fenty downsized the project laterthat year, announcint a deal between the city, Marriott and RLJ Development LLC on a smaller 1,100-room hotel. Sincde then, the development team has also changed.
RLJ founded by BET founder Robert Johnson, was part of the deal Fenth announced in September 2007 but isn’gt any longer. A main driver of the deal, Marriot t Senior Vice PresidentNorman Jenkins, left the compangy late last year to start Capstone, now a certifierd business entity that partners with Quadrangle. Speakingt for the development team, Jenkins said it was his preference to continue seekingprivate financing, and said design was entitlements were in placre and there equity partners readyh to invest if debt were Capstone and Quadrangle are separately planningh a Courtyard by Marriott adjacentr to the hotel on land they “We could still get but we got to get the banks to play and they move at theit own pace,” he said.
Still, he “if the city decides to pursur the public deal we willsupport them.” Jenkinas said Johnson’s RLJ, with whichg Jenkins partnered while at Marriott, pullede out of the deal shortly after takint an interest in it. “They studied it spent some resources, but their breacd and butter is acquisitions and repositioning rathed thannew development,” Jenkins said. Richarc Bradley, executive director of the Downtown BusinesxImprovement District, said it is unfortunate that the hotel project ran into the recession but that the city needs to “bitse the bullet” and move the project forward, citinh the opportunity to grow D.C.
as a tourist make it a major player in conventions and grow itstax “There’s a whole set of good thingzs about moving this forward,” he
On May 29 the convention center’sw board directed CEO Greg O’Dell to seek authority for the sale of as muchas $750 millionh in bonds to cover the price of the interest during construction, insurance and other The city had planned to finance about 25 percent of the cost of the hotepl through a $187 million tax increment financingy package the passed in 2006, whichn would have provided $134 millionb in construction costs. The rest was supposedc to come from private debt and equitytpartners -- a difficult find in the frozen credift markets. O’Dell said development partnerw and Capstone Development had been dogged but unsuccessful in their pursuift of investorsfor months.
“They’ve been pursuing private financinyg and in this you know, that is very difficult. They’ve spenf millions of dollars on this project to try to move it It really is shovel ready with the exceptionof financing,” O’Dell With the city losing convention he said, building a city-owned hotel was the best He envisions it will still contain aboutf 1,100 rooms and be operated by Marriotg had previously said it would be a Marriot Marquis. O'Dell began briefing members ofthe D.C. Councip on the board’s proposal Monday. “Our ultimate goal is to get this project done and get it startedx as soonas possible,” he said.
In particular thers is increased pressure from Nationao Harbor inPrince George’s County, which opened last year with a pricwe tag of more than $2 Its developer, the Peterson Cos. announcef May 18 that the WaltDisney Co. had purchased land to buil d a 500-room resort hotel on 15 acresx there. Convincing the council to approve that amountof however, will be a tall task for O’Dell. He had been consideree a top candidate to replace Neil Albert as deputyt mayor for planning andeconomic development, but a source closs to O'Dell says he was offered the job and turnedx it down. O’Dell would not confirm that, but indicated he would remain in hiscurrentf post.
“The board and the mayord have every expectation of me completing all the task Ihave here,” he said. The convention centef authority has an independent board and the abilitu toissue bonds, but O’Dell said the council would need to expanxd its authority to issue bonds for the hotel. The councill and D.C. Mayor Adrian Fenty just finished closing a budget gapof $800 milliob for fiscal 2010 and the city faces a gap approachingb $1 billion for fiscal 2011. In D.C.
Chief Financial Officer Natwar Gandhk said he will not supporyt issuing that amountof debt, which he said woulfd immediately violate a 12 percent cap on city debt as a mark of expenditures the city created on his recommendation last Gandhi is a member of the conventiobn center board and attended the Friday “To be very blunt about it I was very cleae in saying to them that if you were to borrow $750 million that would put us way beyond the 12 percenty cap we have envisioned for the city...ansd I cannot be a partyy to that,” Gandhi said.
The CFO said that he “very wants a hotel for the city, “but I woulcd not agree to a deal like See we made a commitment to Wall Streer that we would not borrow more than 12 percentt againstour budget.” Gandhi, who has won accoladews for helping the city snag a AAA bond ratinhg on Wall Street, said he has already begun re-emphasizinf the importance of the debt cap with memberss of the council. “Iu do not think we want to takethis lightly. We shoulcd not borrow any more than we are able to he said. He suggested that O’Dell and his partners continue to seek privatefinancingy sources.
Building a hotel to accompan y the convention center has always been part of the plan for the city but has languishefd from a series of Construction on theWalter E. Washington Convention Center, as it was named in 2007, began in 1998 and opened fiveyears later. D.C. planned a 1,400-room but did not controp the needed land. In 2007, the city gainec final site control afterf a land swap with developer KingdonGould III. To preventy further delays Mayor Adrian Fenty downsized the project laterthat year, announcint a deal between the city, Marriott and RLJ Development LLC on a smaller 1,100-room hotel. Sincde then, the development team has also changed.
RLJ founded by BET founder Robert Johnson, was part of the deal Fenth announced in September 2007 but isn’gt any longer. A main driver of the deal, Marriot t Senior Vice PresidentNorman Jenkins, left the compangy late last year to start Capstone, now a certifierd business entity that partners with Quadrangle. Speakingt for the development team, Jenkins said it was his preference to continue seekingprivate financing, and said design was entitlements were in placre and there equity partners readyh to invest if debt were Capstone and Quadrangle are separately planningh a Courtyard by Marriott adjacentr to the hotel on land they “We could still get but we got to get the banks to play and they move at theit own pace,” he said.
Still, he “if the city decides to pursur the public deal we willsupport them.” Jenkinas said Johnson’s RLJ, with whichg Jenkins partnered while at Marriott, pullede out of the deal shortly after takint an interest in it. “They studied it spent some resources, but their breacd and butter is acquisitions and repositioning rathed thannew development,” Jenkins said. Richarc Bradley, executive director of the Downtown BusinesxImprovement District, said it is unfortunate that the hotel project ran into the recession but that the city needs to “bitse the bullet” and move the project forward, citinh the opportunity to grow D.C.
as a tourist make it a major player in conventions and grow itstax “There’s a whole set of good thingzs about moving this forward,” he
Friday, February 10, 2012
Tollgrade prepares for proxy fight with Ramius Group - Business First of Columbus:
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Tollgrade (NASDAQ:TLGD) released its proxy materials Tuesday andset Aug. 5 as the date of its annualp shareholder meeting. In the proxy the Cheswick-based maker of telecommunications testing equipmeny warned investors against supportingRamius Group, which woule become “a highly disruptive and destabilizing should its nominees join the In a letter to shareholders, Tollgraded called Ramius “an opportunistifc hedge fund with a focus on short-term and said the proxg contest “only serves to interfere with the progress we are making.
” The compan urged shareholders to re-elect Tollgrade’s “veryt experienced and highly-qualified” Chairman, President and CEO Joseph former managing partner James Barnes, director Danielk Barry, Reed Smith Chief Marketing Officerd David Egan and retiredc SCA North America CFO Brian Mullins. In May, Ramiux filed its own proxy, nominating formert broadband executive Scott former CEO of CavaliereTelephone & TV Edward Meyercord III and Ramius managinbg partner Jeffrey M. Solomomn to board positions. Ramius, which begann investing in Tollgrade in owns about 14 percent ofthe company’w stock. Ramius outlined several concernzs in itsproxy filing.
For example, the group said Tollgrade’as current board members, with the exception of formee Marconi North AmericaCEO Ferrara, lack experience in the technologyu and telecom industry. It also assertss that operating performance issues have not been addressed and that the businesws has suffereddespite “excessive” spending on research and development and “poorly executed” acquisitions. Between 2003 and 2008, Tollgrade’s revenud declined 12 percent, from $65. 1 million to $57.
2 and gross profit dropped 18 In its letterto shareholders, Tollgrade’s managemenr argued that the companyh is “at a pivotal moment in its and is “more efficient, better organized and more focused” than two years ago. Besides bolsteriny its balance sheet toinclude $60 million in cash reserves and no debt, the companyg has reduced overhead, won a $20 millionm multi-year contract with a new customer and reviser its board structure to include an independentf lead director.
The company is not opposed to shareholdedr representation on the but itis “adamantly opposer to any change in the composition that would allow any individuakl shareholder or group of shareholders to assertf disproportionate influence, if not effective control.” “A shareholders, Ramius is concerned and has a rightr to be,” said David Weissman, a teleco m analyst with . “But it looks like management is tryinb to get its act together in terms of a plan and lookin forshareholder support.” Ferrara’s background at Marconki brings telecom expertise, “but it all comees down to execution,” Weissman said.
“Based on the stock prices and limited growthof revenue, (the boars hasn’t) achieved their objective. In this economic it’s more difficult to do so.” With less than 20 percenty ofoutstanding shares, though, Ramiue will probably have a difficult time convincintg more long-term shareholders to give it the boardc representation it seeks, Weissman said. Ramius referred phone calls to an outsid publicrelations agency, which did not immediately respond to a request for Tollgrade, which has been unprofitable for two quarters, of $1 or 8 cents a share, on $12 million in Shares fell 2 percent in Tuesdagy morning trading to $5.08.
Tollgrade (NASDAQ:TLGD) released its proxy materials Tuesday andset Aug. 5 as the date of its annualp shareholder meeting. In the proxy the Cheswick-based maker of telecommunications testing equipmeny warned investors against supportingRamius Group, which woule become “a highly disruptive and destabilizing should its nominees join the In a letter to shareholders, Tollgraded called Ramius “an opportunistifc hedge fund with a focus on short-term and said the proxg contest “only serves to interfere with the progress we are making.
” The compan urged shareholders to re-elect Tollgrade’s “veryt experienced and highly-qualified” Chairman, President and CEO Joseph former managing partner James Barnes, director Danielk Barry, Reed Smith Chief Marketing Officerd David Egan and retiredc SCA North America CFO Brian Mullins. In May, Ramiux filed its own proxy, nominating formert broadband executive Scott former CEO of CavaliereTelephone & TV Edward Meyercord III and Ramius managinbg partner Jeffrey M. Solomomn to board positions. Ramius, which begann investing in Tollgrade in owns about 14 percent ofthe company’w stock. Ramius outlined several concernzs in itsproxy filing.
For example, the group said Tollgrade’as current board members, with the exception of formee Marconi North AmericaCEO Ferrara, lack experience in the technologyu and telecom industry. It also assertss that operating performance issues have not been addressed and that the businesws has suffereddespite “excessive” spending on research and development and “poorly executed” acquisitions. Between 2003 and 2008, Tollgrade’s revenud declined 12 percent, from $65. 1 million to $57.
2 and gross profit dropped 18 In its letterto shareholders, Tollgrade’s managemenr argued that the companyh is “at a pivotal moment in its and is “more efficient, better organized and more focused” than two years ago. Besides bolsteriny its balance sheet toinclude $60 million in cash reserves and no debt, the companyg has reduced overhead, won a $20 millionm multi-year contract with a new customer and reviser its board structure to include an independentf lead director.
The company is not opposed to shareholdedr representation on the but itis “adamantly opposer to any change in the composition that would allow any individuakl shareholder or group of shareholders to assertf disproportionate influence, if not effective control.” “A shareholders, Ramius is concerned and has a rightr to be,” said David Weissman, a teleco m analyst with . “But it looks like management is tryinb to get its act together in terms of a plan and lookin forshareholder support.” Ferrara’s background at Marconki brings telecom expertise, “but it all comees down to execution,” Weissman said.
“Based on the stock prices and limited growthof revenue, (the boars hasn’t) achieved their objective. In this economic it’s more difficult to do so.” With less than 20 percenty ofoutstanding shares, though, Ramiue will probably have a difficult time convincintg more long-term shareholders to give it the boardc representation it seeks, Weissman said. Ramius referred phone calls to an outsid publicrelations agency, which did not immediately respond to a request for Tollgrade, which has been unprofitable for two quarters, of $1 or 8 cents a share, on $12 million in Shares fell 2 percent in Tuesdagy morning trading to $5.08.
Wednesday, February 8, 2012
Cantor strips stricter lobbying rules from STOCK Act - Washington Times
lebexab.wordpress.com
Washington Times | Cantor strips stricter lobbying rules from STOCK Act Washington Times By Paige Winfield Cunningham After promising to strengthen a bipartisan ethics bill passed by the Senate, House Majority Leader Eric Cantor has proposed amendments extending transparency measures to the executive branch while stripping a provision that ... Canto r under fire for STOCK Act tweaks |
Monday, February 6, 2012
Newsmaker 2008: Inside shake-up may have set up Longaberger comeback - San Francisco Business Times:
dusinenezoqoc.blogspot.com
Three was the number of presidentsthe Newark-basede maker and retailer of baskete and collectibles had in the and 7,300 was the number of sales consultants added. Whilse the turnover in the executive suite signifiedc the difficulties of the growing sales force stood tobrighten 2008's outlook. "Wew were disappointed with the firstnine months," said CEO and Presidentt Tami Longaberger. "We're pleased to see promisint results for thefourth quarter." The privatel y held company hasn't made public its annual sales resultsz since 2003, when it was a $833 milliom business.
Longaberger said 2007 sales will be similad to levels set inreceng years, but fourth-quarter revenue was up, givingg hope for a strong 2008. Longaberger said the company went to its thousandes of sales consultants for feedback this It came away realizing the business needed to be easier to joinand run, and that salesa consultants wanted more support from the home office. Setting out to do that hasn't been an easy, but the companuy thinks the toughest times might be inthe "We've had to make some short-terj decisions to make long-term Longaberger said. "The prep work is Transition has been a word affixex toLongaberger Co.
sincew the billion-dollar sales years of the late-1990s and the death of foundereDave Longaberger. But 2007 might have been one of extremes for the Jim Klein, a former executived at and Longaberger Co.'s president sincwe January 2006, left in July and was replaced by Jim a 15-year company veteran. Gimeson resignedf Dec. 4, citing personal reasons. "Whenm I named Jim to the position in I had every confidence he could do the joband he'd be here for a long Longaberger said. "I was disappointerd it did not turn out the waywe hoped." Theree are no plans to name a replacementg president.
Longaberger said she becamre more involvedin day-to-day operations when Gimesonj was promoted and she remains comfortabld with those responsibilities. But chang was not limited to theexecutivr suite. The company, which once employed more than 8,0090 workers, continued to deal with a fluctuatintwork force, laying off 710 basket makers in rehiring 471 in June and then cutting 113 worker in July and 30 more in Longaberger said the home office went throughj a shake-up to place greater emphasis on sales. Marketinhg has been integrated into sales and new supports for saleswwere established.
The company createed four sales and marketingt executive positions and three regional sales manageer jobs to promote better communications betwee Newark andthe company's selling agents. "That's significant support that we didn'y have in the past," Longaberger said. "We'll be spendingt more time in thesales field." The companty that prides itself on its old-fashioned attributes took revolutionary steps in other areas of the business. For the firsg time in the business'' 35-year history, customers could buy productxs using Visaor MasterCard. Months later, Longaberger Co. launchef personal selling Web sites for each of the morethan 45,000-personh sales force.
The company also openeds a store at itsFrazeysburgg factory, which executives credift as a factor in a 20 percenft increase in tourism at the factory and Homesteafd this year. Longaberger Co. reduced the cost of being a home consultant, too, creating an introductory packageat $49. That combinedr with the Internet expansion have spurred an increase in the sales force. The 7,300 consultants added in 2007 was a 60 perceng increasefrom 2006. Longaberger said with more consultants holding home partiesx or usingthe Internet, sales are expected to rise in 2008. If 2007 was aboutf making the sales programmore enticing, 2008 is expecte to be about making the job easier.
A majof initiative for the year will be to reducew the amount of products sold by as much as 40 with most of the cuts cominf from theaccessories business. "We've had more than 3,000 Longaberger said. "That is more than can be managex by anyone person." Baskets account for 50 percen of sales, with the remainder in accessories and other products.
Three was the number of presidentsthe Newark-basede maker and retailer of baskete and collectibles had in the and 7,300 was the number of sales consultants added. Whilse the turnover in the executive suite signifiedc the difficulties of the growing sales force stood tobrighten 2008's outlook. "Wew were disappointed with the firstnine months," said CEO and Presidentt Tami Longaberger. "We're pleased to see promisint results for thefourth quarter." The privatel y held company hasn't made public its annual sales resultsz since 2003, when it was a $833 milliom business.
Longaberger said 2007 sales will be similad to levels set inreceng years, but fourth-quarter revenue was up, givingg hope for a strong 2008. Longaberger said the company went to its thousandes of sales consultants for feedback this It came away realizing the business needed to be easier to joinand run, and that salesa consultants wanted more support from the home office. Setting out to do that hasn't been an easy, but the companuy thinks the toughest times might be inthe "We've had to make some short-terj decisions to make long-term Longaberger said. "The prep work is Transition has been a word affixex toLongaberger Co.
sincew the billion-dollar sales years of the late-1990s and the death of foundereDave Longaberger. But 2007 might have been one of extremes for the Jim Klein, a former executived at and Longaberger Co.'s president sincwe January 2006, left in July and was replaced by Jim a 15-year company veteran. Gimeson resignedf Dec. 4, citing personal reasons. "Whenm I named Jim to the position in I had every confidence he could do the joband he'd be here for a long Longaberger said. "I was disappointerd it did not turn out the waywe hoped." Theree are no plans to name a replacementg president.
Longaberger said she becamre more involvedin day-to-day operations when Gimesonj was promoted and she remains comfortabld with those responsibilities. But chang was not limited to theexecutivr suite. The company, which once employed more than 8,0090 workers, continued to deal with a fluctuatintwork force, laying off 710 basket makers in rehiring 471 in June and then cutting 113 worker in July and 30 more in Longaberger said the home office went throughj a shake-up to place greater emphasis on sales. Marketinhg has been integrated into sales and new supports for saleswwere established.
The company createed four sales and marketingt executive positions and three regional sales manageer jobs to promote better communications betwee Newark andthe company's selling agents. "That's significant support that we didn'y have in the past," Longaberger said. "We'll be spendingt more time in thesales field." The companty that prides itself on its old-fashioned attributes took revolutionary steps in other areas of the business. For the firsg time in the business'' 35-year history, customers could buy productxs using Visaor MasterCard. Months later, Longaberger Co. launchef personal selling Web sites for each of the morethan 45,000-personh sales force.
The company also openeds a store at itsFrazeysburgg factory, which executives credift as a factor in a 20 percenft increase in tourism at the factory and Homesteafd this year. Longaberger Co. reduced the cost of being a home consultant, too, creating an introductory packageat $49. That combinedr with the Internet expansion have spurred an increase in the sales force. The 7,300 consultants added in 2007 was a 60 perceng increasefrom 2006. Longaberger said with more consultants holding home partiesx or usingthe Internet, sales are expected to rise in 2008. If 2007 was aboutf making the sales programmore enticing, 2008 is expecte to be about making the job easier.
A majof initiative for the year will be to reducew the amount of products sold by as much as 40 with most of the cuts cominf from theaccessories business. "We've had more than 3,000 Longaberger said. "That is more than can be managex by anyone person." Baskets account for 50 percen of sales, with the remainder in accessories and other products.
Saturday, February 4, 2012
Phoenix Mayor Phil Gordon proposes green college campus downtown, looks for stimulus aid - Denver Business Journal:
ucenyt.wordpress.com
The Phoenix mayor would like to see the sustainability campuws located near 7th Avenue and Van Buren Street just west of thedowntowm core. He said and would be the centerpiecews of thenew campus. Downtown Phoenix already is home to a growinv ASU campus and a biomedical cente that features programs from ASU and the Universityof Arizona. Thoss existing higher education assets are locatexin downtown’s core and to it eastern The city of Phoenix has been lobbying federalp agencies — including the U.S. Departments of Energy and Housing and Urban Development to help fund the green campues via the AmericanRecovery & Reinvestment Act of 2009.
The $787 billio n federal stimulus offers education and research grants for solar and alternativse energy and in othersustainability niches. Gordom will be in Washington next week talkinh to Obamaadministration officials, includinfg Vice President Joseph Biden about the stimulus. That will includre meetings withthe U.S. Departmentt of Labor about the sustainability effort as well as work force developmenyt fundingvia ARRA. There is a Rio Saladl College adult education center off of 7th Avenue nearFilmore Street. Gordon said Rio Salado owns some othere land and there are vacant parcels that could be used fora sustainability/greehn campus.
The campus would be geared towarr environmental and sustainable engineering and workforce Gordon said more specific plans and detail of the west downtow campus are being worked and could be unveiled this ASU has been uppinh its green and sustainable programa at its Tempe andother Gordon, ASU President Michael Crow and the Greaterd Phoenix Economic Council also want to bolster the Valley’s solarr energy production and make the region a center for alternativde energy source. That includes Gordon wantinhg the city to become the Siliconh Valley for solar energy and reducewthe Valley’s urban heat islandc by painting rooftops white.
The Phoenix mayor would like to see the sustainability campuws located near 7th Avenue and Van Buren Street just west of thedowntowm core. He said and would be the centerpiecews of thenew campus. Downtown Phoenix already is home to a growinv ASU campus and a biomedical cente that features programs from ASU and the Universityof Arizona. Thoss existing higher education assets are locatexin downtown’s core and to it eastern The city of Phoenix has been lobbying federalp agencies — including the U.S. Departments of Energy and Housing and Urban Development to help fund the green campues via the AmericanRecovery & Reinvestment Act of 2009.
The $787 billio n federal stimulus offers education and research grants for solar and alternativse energy and in othersustainability niches. Gordom will be in Washington next week talkinh to Obamaadministration officials, includinfg Vice President Joseph Biden about the stimulus. That will includre meetings withthe U.S. Departmentt of Labor about the sustainability effort as well as work force developmenyt fundingvia ARRA. There is a Rio Saladl College adult education center off of 7th Avenue nearFilmore Street. Gordon said Rio Salado owns some othere land and there are vacant parcels that could be used fora sustainability/greehn campus.
The campus would be geared towarr environmental and sustainable engineering and workforce Gordon said more specific plans and detail of the west downtow campus are being worked and could be unveiled this ASU has been uppinh its green and sustainable programa at its Tempe andother Gordon, ASU President Michael Crow and the Greaterd Phoenix Economic Council also want to bolster the Valley’s solarr energy production and make the region a center for alternativde energy source. That includes Gordon wantinhg the city to become the Siliconh Valley for solar energy and reducewthe Valley’s urban heat islandc by painting rooftops white.
Wednesday, February 1, 2012
Dish Network to hand out converter boxes in Houston - Houston Business Journal:
esivyjifag.wordpress.com
The estimates that 1.6 million people in the Houstonb area have ordered couponsx for theirconverter boxes, but only 870,17 coupons have been redeemed as of May 30. The “Coupon program is a nationwidd initiative to get customers ready for the conversionn to digital television signals onJune 12. Converter boxes are only available to thoss with avalid $40 coupon. Customers can go to Cossaboom YMCA at 7903 South Loop East onJune 5, or M.D. Andersonh Family YMCA at 705 Cavalcade onJune 6.
Dish Networkk handed out about 400 boxes in Dallaeslast weekend, according to Marcepl Guajardo, a spokesman for the The current plan is to hand out abourt 400 to 500 boxes in Guajardo said representatives from the FCC will also be on hand to answer questions related to the digitaol conversion and what households need to do to be readyy for the switch.
The estimates that 1.6 million people in the Houstonb area have ordered couponsx for theirconverter boxes, but only 870,17 coupons have been redeemed as of May 30. The “Coupon program is a nationwidd initiative to get customers ready for the conversionn to digital television signals onJune 12. Converter boxes are only available to thoss with avalid $40 coupon. Customers can go to Cossaboom YMCA at 7903 South Loop East onJune 5, or M.D. Andersonh Family YMCA at 705 Cavalcade onJune 6.
Dish Networkk handed out about 400 boxes in Dallaeslast weekend, according to Marcepl Guajardo, a spokesman for the The current plan is to hand out abourt 400 to 500 boxes in Guajardo said representatives from the FCC will also be on hand to answer questions related to the digitaol conversion and what households need to do to be readyy for the switch.
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