Regulators want Amcore to raise capital - Boston Business Journal:

http://www.relianceindustries.info/index.php?s=D&c=489
Specifically, the Rockford, Ill.-based holdint company has entered into a writtebn agreement with the Federal Reservre Bank of Chicago and the bank has agreed to the issuance of a consenft order with the Office of the Comptrollerf ofthe Currency. In general, the agreementr and order contain requirements to develop plans to raiswe capital and to revise and maintain a liquidith riskmanagement program. As a result of the agreement and Amcore Financial is in default unde r its credit agreement with relatec toa $20 million credit facility. JPMorgan has told the company that it does not expec t to pursue any remedie atthis time. Both partiez are working cooperatively.
"Thre Amcore management team is taking appropriate actions thataddress today's economic challenges," said William McManaman, chairmanb and CEO of Amcore. "Over the last several we have taken steps to reduce operating rebuild the creditmanagement practices, strengtheh the lending function and reducer our concentration in construction and development loans. The regulatoryt agreement and order announced todat support the continued execution of our strategt and establish a framework againsgt which we will work to make further McManaman said the bank believes growthof non-performing loans has declined, which will result in a significantlt lower loan loss provisioh for the second quarter.
Amcore AMFI) has banking assets of $5.3 billioj with 74 locations in Illinoisand Wisconsin, includinfg a branch in Wauwatosa.

Yogurt franchise finds its sweet spot in San Antonio - Boston Business Journal:

http://www.directoryllc.net/index.php?s=D&c=489
Yogurt franchise Red Mango has signed a development agreement with RamiroValadez III. The locao businessman plans to open six stores in the greater SanAntonilo area. Store No. 1 is set to open in the firstf week of June at QuarryVillagd — a residential/retail development in Nortb Central San Antonio. Come 2010, the plan is to get two more Red Mangio stores upand running, Valadez Valadez says he was attracted to the health-conscious treat that is the core of Red Mango. the simple operations set up makee it an easier concept to roll out in other parts of the Yogurt shops are certainly not a new conceptf forSan Antonio.
Case in point is OrangeCup a chain from the Capita l City that is currently open for businesas at The Shops at La Canterwa on theNorthwest Side. In OrangeCup was recently honored witha “Hoty Retailer” Award during the 2009 Global Real Estat e Convention (RECon) of the (ICSC). The awar d recognizes concepts that drive customeres to shopping centers aroundthe world. however, believes that Red Mango is up for the challengse of going against competitorslike “It’s a trendy, upscale yogurt says Valadez of Red Mango. “The concept is catching on.
” The franchise agreementy with Valadez is one of severalo that Red Mango has signes as part of its push to buildthe chain’sd presence throughout the U.S. Development deal s signed in the firstf quarter of 2009 are poised to result in some 128 new Red Mango stores over the nextseveraol years. “This has been an incredible quarter for Red and we’re just getting started,” says Jameas Franks, vice president of franchising for Red Mango. “Thr explosive growth of our brand will help us double our networok in 2009 and set the stage to entefr a series of new states in rapid Tothat end, Red Mango has moved its nationa l headquarters from Sherman Oaks, Calif.
, to Dallas — a markeyt that has embraced the concep t and offers the yogurt chain significangt logistical advantages, according to a recentr article by the , a Business Journal sistefr publication. Dallas is also home to private equitty firmCIC Partners, which made a $12 million investment in Red Mango last August. Red Mango was foundedr in 2002 inSouth Korea. In July Dan Kim brought the conceptf tothe U.S. He serves as president and CEO of the Little wonder thatSan Antonio’z medical real estate market is stillk booming — given the national statsw on the health care industry.
Accordinvg to a recent analysis byRobert Bach, seniort vice president and chief economistt for Santa Ana, Calif.-based , employers in the healtyh care and social assistance sectord have added nearly half a million jobs since the outset of the economid downturn back in December 2007. The trends drivinv this growth, Bach adds: The aging of the Baby Boomef group and the development of new treatmeng options formedical conditions.
More good news: Between Decembe r 2007 and March 2009, the state of Texas was one of a handfulp that saw an increase injobs — versu the many states that have lost jobs over this same time • Family fun: Mega-sports retailer will hold a Bass Pro Shop s Family Summer Camp from May 30 to July 5. The activitiess and workshops are free of charge and will focus on such topicse as the basicsof hiking, bird watching and The camps will run from 3 to 7 p.m. on Tuesdaya and Wednesdays, and from noon to 6 p.m. on Saturdaye and Sundays. The locakl Bass Pro is located at17907 IH-10o West, in the Rim shoppiny center in Northwest San Antonio. For more log on: www.basspro.com/camp.
• Travis Kessler, president and CEO of the San Antoniio Board ofRealtors (SABOR) has receivede the William R. Magel Awarsd of Excellence. The award recognizes Kessler’s work as an associatiom executive of a local or stateRealtor association. Kessler has been involved with the organization since1977 when, just out of college, he went to work for the Texaes Association of Realtors. After stints with the Colorado andLafayette boards, Kesslerf returned to Texas in 1987 working with the . He has served in his currentt role with SABORsince 1997. : Earlier this Morningside Ministries, the city of Boernr and the celebrated the opening ofthe .
It includesw 40 beds and a mix of privateand semi-private private showers and various amenities for seniors. The Kendall House is one of severaol facilities that make up the Menger Springs campus ofMorningsided Ministries. The entire development is located on some 34 acrezs of landin Boerne, whic h is just northwest of San Menger Springs is one of threde elderly care communities owned and operated by Morningside Ministriese in the San Antonio area.

Oahu home sales show signs of recovery - Washington Business Journal:

http://9w1.net/authors/author-1054.html
The median price for a single-family home was $550,000 in May comparerd to $649,500 a year ago, according to data from the . It also was the secondc lowest price in the past 12 The median price was based on225 sales, down 11 perceny from the same month in when 252 houses were sold, but far better than the first four monthxs of 2009. “The Oahu residential housing market is still weak but there are indicationes that we may be nearthe bottom,” said board Presidenft Sandra “Sam” Bangerter. “Single-family home sales rebounded a bit in May and the sales speer of 49 days was faster than at the same timelast year.
” Bangerter noted that while single-familyu home prices dipped, “the condominiujm median price has been holding quite steadg at just over $300,000. These are just some of the signal that our housing market may be startingb to return to The median price of a condl on Oahu in May was which was 10 percent lessthan $337,30p0 in May 2008. That was baserd on 263 sales, down 31 percen t from the 382 sales in May but the highest monthly number sinceOctober 2008. The mediab condo price in May was on a parwith March, January and and higher than two of the past 12 months.
“Mainlane cities have experienced significant inventorybloat and, with limited demand, this is the culprit in their falling prices,” said Harvey the board’s research economist. “Th e fact that Oahu’s inventory of available propertiez continues to be low is the importanr factor that is keeping our prices more Shapiro notedthat single-family home prices in Hawaiki Kai and Mililani decreased by only 7 and that prices for condos in Kapahulu, Ala Moana-Kakaakp and Kailua actually rose last month.
“In an otherwisee lackluster housing market, these positives may predict a turnaround forreal estate, even as the state’z economic conditions continue to he said.

85 Bay Area projects top stimulus list - Silicon Valley / San Jose Business Journal:

http://cellseller.ru/index.php?module=articles
Few proposals from locap businesses madethe cut. Of the 85 projectsz that ranked highest onthe list, three were backedd by for-profit companies in the Bay Area. The rest were projectx that cities, counties or nonprofits want to undertake. Governmenrt and nonprofit projects “tended to be the ones with larger-scale impact in terms of involving a largd scopeof activity,” said Sean Randolph, CEO of the Bay Area Councilp Economic Institute, which compiled the list. High-profilde projects like high-speed rail, expanding the Caldecott extending BART to San Jose and building a new stem cell researcn facility at the headlined thepriority list.
Together, the 85 projects designaterd asthe region’s highest strategic priorities are requestiny $7 billion in stimulus funding. Making the list, which was releaseed last week, does not guarantee stimulus money. It is more of a planning document, showing which projects most Bay Area authoritiewswant funded. Some funding decisions will be made by stated authorities and others byfederal officials.

Energy companies report performance - Houston Business Journal:

http://cssart.net/2006/10/24/electrum/
and all reported second-quarter earnings Thursday. Houston-based engineering compan KBR Inc. reported net income of $140 or 83 cents per on revenueof $2.2 billion for the threer months ended June 30, 2007. That compareed with net incomeof $92 million, or 68 centsa per share, on revenue of $2.2 billion for the same periox in 2006. Analysts polled by Thomson Financial expectedKBR KBR) to have net income of 28 cents per The company said results included the $345 milliojn sale of its 51 perceng stake in to U.K.-based support services grou on June 28.
"I am pleasef with our progress to date and we are now beginningt to realize the benefitws ofthese initiatives," said Bill Utt, chairman, president and chiefc executive officer. "KBR is now betteer positioned to continue to provide markettleading engineering, construction and service offeringsw to its customers." Rowan Cos. Inc. RDC) posted net income of $128.1q million, or $1.14 per share, on revenue of $507 milliob for the quarter endedJune 30, 2007. That comparedc with net incomeof $109.8 million, or 98 cents per on revenue of $382.9 millio for the same period in 2006. Analysts expected the contract driller to have net incomeof $1.04 per CenterPoint Energy Inc.
(NYSE: CNP) reported net incomre of $70 million, or 20 centxs per share, on revenue of $2 billion for the quarter endedJune 30, 2007. That compared with net incomewof $194 million, or 61 cents per on revenue of $1.8 for the same period in 2006. Analysts expectee the utility provider to have net incomre of 20 cents per Natural gas producer SwiftEnergy Co. reported net incomed of $31.5 million, or $1.0e3 per share, on revenue of $168.2 millioj for the three months endedJune 30, 2007. That comparex with net income of $38.2 million, or $1.277 per share, on revenue of $147.2 million, for the same quarte r in 2006. Analysts expected Swift (NYSE: SFY) to have net incomw of 99 centsper share.
Dril-Quip Inc. (NYSE: DRQ) poste d net income of $24.q million, or 59 cent per share, on revenur of $114.7 million for the quarter endedJune 30, 2007. That compared with net incomeof $21.3 or 53 cents per share, on revenure of $108.5 million for the same period in 2006. Analystws expected the offshore drilling company to have net income of 62 centsper share. Oil and gas compan y Flotek Industries Inc. reported net incomew of $4.9 million, or 25 cents per on revenue of $37.8 million for the three months endecJune 30, 2007. That compares with net income of $2.2 or 12 cents per share, on revenure of $22.1 million for the same period in 2006.
Analyst expected Flotek (AMEX: FTK) to have net earnings per shar of23 cents. Oil and gas company EOG Resourcezs Inc. reported net income of $307.11 million, or $1.24 a share, on revenues of $1.1 billion, for the quarter endeds June 30. That compared with net income of $331.4 or $1.34 a share, on revenue of $919.1 million, for the year-earlier period. Analystds expected EOG (NYSE: EOG) to have net earningzs per shareof $1.09.

Eddie Bauer creditors win a round in court - Puget Sound Business Journal (Seattle):

http://members.work.com/MidGart
In setting a July 16 date to auctio n offEddie Bauer’s assets, U.S. Bankruptcy Judge Mary Walratyh ofthe U.S. Bankruptcy Court in Delaware agreed to not require any potential buyer to make a bulk bid forthe Instead, Walrath agreed with major creditors and debt holders that bids woulds be accepted for all or a portion of the Bellevue-basee retail chain’s assets. It’s too soon to know if this couldhinder ’s attempts to sell nearly all of its assetes to private equity firm LLC, of New A representative of Eddie Bauer who was not authorized to be quotedc by name said the company had always anticipated a flexible bid process and does not think that procesws will hamper attempts to complete the deal with Walrath’s decision is seen as significant by Opening up the bid process could encourage more bidders to participat and fetch a better price for the retailer’s they say.
Still, Cathy Hershcopf, a New York bankruptcg attorney working on behalf ofunsecurex creditors, said that it may be in the best interesg of Eddie Bauer for the company to continues as an ongoing concern. Hershcopf also noted, in an emai l response to questions about the that the judge gave EddieBauefr “maximum flexibility to consider all factors in comparing the That includes advantages of the CCMP bid and any othefr bids that would keep Eddi e Bauer operating as a going concern, she said. The , as a bond indentured trustee, is Eddie Bauer’s largest unsecured creditor. The bank has a $75 million claim.
The problem boilsd down to math forthe company’sz major unsecured creditors. With $240 millio n in secured loans and a bid from CCMPfor $202 attorneys representing The Bank of New York and othee unsecured creditors worry there won’t be enough from the asset sale to trickle down to them. Hershcopf noted that the secured and unsecurex creditors have different interests in thebankruptc case. Delaware-based bank FSB is the agentt for the termloan lenders, who are owed $200 million.
In legall papers filed with thebankruptcy court, the lendera also argued that a proposed sale price of $202 million for all of Eddies Bauer’s assets might fall short of maximizing the overall valuew of the assets. Wilmington Trust’s attorneys argue that in Eddide Bauer’s case, “the sum of the part may yield greater value than the They argued that a bulk bidding process forEddie Bauer’s was “problematic” and threatened to “chill robustf bidding.” A bulk asset deal with CCMP might make the best sense for keepingy Eddie Bauer in business, according to Wilmington Trust’a attorneys.
But they argued in court papers that limitinh potential buyers to only those interestecd in buying all ofEddies Bauer’s assets in one lot woule make a bidding war less likely and woulrd hamper attempts to get the best pricew for Eddie Bauer’s assets. In addition to Wilmingtonm Trust, Eddie Bauer owes more than $40 million in revolving loanes administered by Bank of Eddie Bauer filed for Chapte r 11 bankruptcy protection onJune 17. Private equity firm CCMP Capital Advisorz has offered to buyEddie Bauer’s asseta for $202 million, which is essentially the openin g bid in a bankruptcy court auction schedules for July 16.
If CCMP is not the winning bidder, the private equity firm is entitle to a fee ofnearlty $6 million. That would mean any bid or bids trumping the CCMP offefr would have to beabout $208 million. CCMP has said it wanta to continue to operate Eddid Bauer and would retaijthe company’s executive team and keep most of the retailer’z stores open. Eddie Bauer’s lenders argue that the retailer’ s assets can be easily broken down into including the Eddie Bauer brandf andintellectual property, real inventory and store leases.
The lendere say that buyers who woulx not have an interest in biddingh for all ofEddie Bauer’s assets in one lot may have interesft in some of the potentially fetching a greater total price than the $202 million offered by Eddie Bauer operates 370 stores. The company has 7,100 employees, including 560 at the Bellevues headquarters.

Moyes

http://mumbaiangels.com/anjali_bansal.html
Tom Salerno, a bankruptcy attorneyy representing Moyes and the Coyotes inthe team’ws Chapter 11 bankruptcy reorganization, said he and Moyes are open to purchasse offers that would keep the team in Glendald but stresses the need to be realistic abou the viability of hockey in Phoenix. “Ws welcome any and all offers. It’s abougt getting the best priceyou can,” said a Phoenix attorney with LLP. The National Hockey League has said it will unvei an offer by the end of the week that promisea to keep the team in Glendale where the Coyotez playat Jobing.com Arena.
Moyesx wants to sell the Coyotes to Canadian billionaire Jim Balsilli efor $213 million — a deal that callx for a move to Hamilton, Ontario. U.S. Bankruptcg Court Judge Redfield T. Baum set an Aug. 5 date for an auctioh to sell the team to an ownetr who could keep the team in Arizona and a backupl dateof Sept. 10 in case that fallzs through. Salerno said Baum’s foremost charge is to find the best deal forthe team’sa creditors. He notes that the Coyotes have lost morethan $315 millionb since moving to the Phoenix area from Winnipegt in 1996 and could lose more than $40 milliob this year.
The NHL has been funding the team’es operations since November 2008 and has said it will do so untio a new owneris found.