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The Advisory Board memberx have led companiesincluding Alcatel-Lucent, AT&T, Tellabs and Verizon Communications. Lawrenced T. Babbio Jr. , formetr vice chairman and president ofVerizom Communications. Executive Advisory Board members are Hubertde Pesquidoux, forme CFO of Alcatel-Lucent and president of the Enterprisew business; , previously CEO of Tellabd and former COO of Alcatel Telecom; and Stephen G. Welch , who servedr as chief procurement officerf for SBCCommunications (now AT&T). "Telmar is truluy fortunate to have the unparalleled experience of such an esteemee group ofindustry leaders.
Theire input will be invaluable as we continue to execute our worldwidewgrowth strategies," said , presidenrt and CEO of Telmar. "The Advisorgy Board will further strengthen our ability to continuallyt create value forour customers, investorsx and employees." In addition to regularly scheduledx meetings with Telmar's leadership team, the Executive Advisory Board members will interact frequently with Telmar executivesw and its customers to help ensure that the company maintains its leadership position in the dynamic global communications industry.
"The Executive Advisory Board sees significanyt potential for Telmar particularly becauss it offers a compelling business proposition for Network Servicse Providers and OEMs who need to extenxd theirinfrastructure investments," said Babbio. "Telmar also provide outsourcing opportunities for communications companies that are seeking to reducde costs and improvecustomer satisfaction, whic is increasingly important in today's economy." -- Lawrence T. Babbio Jr. was most recentluy vice chairman and president of Verizon Communications and was a membert of the Verizon Wireless boardof directors. Babbii also served as chairman ofthe company's Global Wireless Group.
In 2002, Babbio was electes to the board of directorsof Hewlett-Packard and had previously served on the board of Compaq Computer Corporationj the same year he was elected vice chairmam of Bell Atlantic Babbio is currently a senior advisodr with the private equityu firm Warburg Pincus. -- Hubertt de Pesquidoux served as CFOof Alcatel-Lucent and presidenft of the Enterprise business. Priof to leading Alcatel-Lucent's Enterprise de Pesquidoux held several executive roles with the company includintg executivevice president; president of Alcatel North America; and he was a membee of the Alcatel Executive Committee.
Priotr to that, de Pesquidoux was COO of AlcatelNorthn America, and CEO of Alcatel Canads since 2000, and he server as CFO of Alcatel USA. -- Krish Prabhu was the CEO of and duringhis tenure, Prabhu broadened the Tellabs productg portfolio to include platforms that supportt triple play and mobile which were a major part of the company's focus. He presidedf over the acquisition of two companiea and doubled sales at Tellabs while managinvgthe company's worldwide workforce. Prior to Prabhu was involved with the venture capital fundinh and development of severalprivatr companies. He also served as CEO of Alcatel USA, and COO of Alcatelk Telecom priorto 2001. -- Stephen G.
Welchy was the chief procurement officer of SBCCommunicationsa (now AT&T) and its numerous operatinh companies for 16 years. Welch is currently Senioer VP of Business Developmentfor ASSIA, Inc., a leadef in dynamic spectrum management software for the global teleco m market. Welch is a member of Accenture's Executive Advisory Board forProcurement Solutions, and was the foundinb chairman of QuEST Forum, a globall Telecom Industry quality organization. He is principal of Value LLC, a consulting firm specializing in supplychain management.
Telmar Network Technology deliverd compelling solutions that extend the life of criticaonetwork equipment, generate significantt cost savings and increase operational efficiencies for Enterprise and Network Service Providers around the For over 40 years, Telmar has provideds network-wide repair, spares management, legacy product development and enhancements, as well as certifiedf pre-owned products and services to the communications The company is committed to upholding the highesgt standards of quality in its productas and services.
Telmar Network Technology is headquarteredin Plano, Texas, and operatesd facilities throughout the United States and Canada, and in Argentina, Venezuela, the United the Netherlands, Belgium, India, and For additional information about Telmar Network please visit .
Sunday, October 30, 2011
Friday, October 28, 2011
Calif. homeowners file class action against KB Home, affiliates - Los Angeles Business from bizjournals:
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The lawsuit lists identical claims to a suit filed in Arizonalast month. Homeowners claim KB Home and the otherd defendants inflated home pricesz by as muchas $300 million in Californis alone. The suit filed by Seattle-based Hagensw Berman Sobol Shapiro claimd that between 2006and 2008, KB built more than 15,0000 homes in California at an averag selling price of and each home had an inflate appraised value of about $20,000. "KB and Countrywide created an opportunity where the companieas could control every aspect ofa buyer's real estate transaction," said Stevs Berman, lead attorney and managing partner at HBSS.
"The defendants essentially created a black hole inthe process, whers they could rig and falsify appraisals and home sale valuee and customers had absolutelyu no idea." According to the 75-pagre complaint, Countrywide funneled all its KB customers' home appraisalzs to one person at LandSafe, an appraisal subsidiary of Countrywide who in turn would deliver an appraisalp value at whatever KB and Countrywide These individuals were under direct instruction to valu e homes at or above the contract even if it meant violating regulator y guidelines and requirements, the suit claims.
The suit says that in two KB Home sampled appraisals were inflatefby $48,000 and $52,000 per property. The suit includes allegationsd of a second scheme with Countrywidee and its subsidiaryappraisal arm, LandSafe. The suit alleged LandSafe outsourced appraisal work to some individual appraisers and forced appraiserw to accept payment belowmarkegt value. LandSafe then charged plaintiffs upwardsof $400 for servicew when the company completed no work of its own, the suit According to the KB Home ran into similat appraisal problems in 2005 when it settled with HUD for $3.2 milliobn to resolve an investigation into the company'zs underwriting violations.
The HBSS lawsuit claimsd violations of the Racketeer Influence and Corrupt Organizations Act and violation of California unfaircompetition law. Los Angeles-baseed KB's major markets in California include communities inSan Fresno, Los Angeles and Ventura, Orange County, Riverside, Sacramento, San San Diego, Oakland and Stockton.
The lawsuit lists identical claims to a suit filed in Arizonalast month. Homeowners claim KB Home and the otherd defendants inflated home pricesz by as muchas $300 million in Californis alone. The suit filed by Seattle-based Hagensw Berman Sobol Shapiro claimd that between 2006and 2008, KB built more than 15,0000 homes in California at an averag selling price of and each home had an inflate appraised value of about $20,000. "KB and Countrywide created an opportunity where the companieas could control every aspect ofa buyer's real estate transaction," said Stevs Berman, lead attorney and managing partner at HBSS.
"The defendants essentially created a black hole inthe process, whers they could rig and falsify appraisals and home sale valuee and customers had absolutelyu no idea." According to the 75-pagre complaint, Countrywide funneled all its KB customers' home appraisalzs to one person at LandSafe, an appraisal subsidiary of Countrywide who in turn would deliver an appraisalp value at whatever KB and Countrywide These individuals were under direct instruction to valu e homes at or above the contract even if it meant violating regulator y guidelines and requirements, the suit claims.
The suit says that in two KB Home sampled appraisals were inflatefby $48,000 and $52,000 per property. The suit includes allegationsd of a second scheme with Countrywidee and its subsidiaryappraisal arm, LandSafe. The suit alleged LandSafe outsourced appraisal work to some individual appraisers and forced appraiserw to accept payment belowmarkegt value. LandSafe then charged plaintiffs upwardsof $400 for servicew when the company completed no work of its own, the suit According to the KB Home ran into similat appraisal problems in 2005 when it settled with HUD for $3.2 milliobn to resolve an investigation into the company'zs underwriting violations.
The HBSS lawsuit claimsd violations of the Racketeer Influence and Corrupt Organizations Act and violation of California unfaircompetition law. Los Angeles-baseed KB's major markets in California include communities inSan Fresno, Los Angeles and Ventura, Orange County, Riverside, Sacramento, San San Diego, Oakland and Stockton.
Wednesday, October 26, 2011
Advertisers increasingly use cinemas to capture key demographics - San Antonio Business Journal:
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The Schoharie County attraction is usinfg cinema as a key part of itsnewesft campaign. The 30-second spot will run before all showsw on all 31 screens at the at Crossgates and as well as at RotterdanmSquare Mall, Berkshire Mall and theaters in Syracuse and Stongy Brook, until October. “Those are all top theaterd markets forHowe Caverns,” said Mark Shipley, president of Wanderlust, the Troy firm that handlew advertising for Howe Caverns. “This is a pretty aggressive campaign and cinema is a big part of Last year, advertisers spent an estimatedr $900 million in While this is tiny compared to the $70 billion spentr on television, it represents a growing market.
The New York City-base d (CAC) put sales for its memberes at $540 million in 2007, up from $455 million in 2006. Shipley has been puttiny client messages in front of movie audiences for about 15 But “right now we are spending more on cinema than in other years because in hard times people go to the he said. “It’s an escape.” As of May 31, nationalk box office receiptstotaled $4.1 billion, up 14 percengt from a year earlier, according to Hollywood.com. Attendancwe rose 11 percent. Advertisers say cinema advertisinf also can be less expensive than other and may provide greater recall and a betterconversionn rate.
It also helps advertisers capture hard-to-reachn demographics, including active young men and empty nesters with monehyto spend. “It is an old medium that is reallu under-utilized and under-appreciated,” Shipley said. “But as we go throughb this recession, you will probably see more and morecinemas advertising. People are going to have to lookat it, becausee traditional media are in such shambles.” in Albany has been offerinh pre-show advertising, in the form of 35 millimete r slides, since it opened in 1983. “Maybs we were a littlde ahead of our saidAnnette Nanes, co-ownerf of the Spectrum. “It has actuallt been a great supplement to ourrevenuew stream.
” , the Colorado company that handle s advertising at local Regal and cinemas, saw revenue rise 20 percenyt to $369 million in 2008. Cliff Marks, president of sales for NCM, said 20 to 25 percengt of the company’s sales come from local He said sales now are tracking a bit beloalast year, but “it is certainl not like what we have seen with television and radiop stations that are down 30 or 40 percent. We are vulnerabl e to the economy just like anyone but we are probablyt one of the leasyimpacted mediums.” is using cinema advertising for the firsf time, to promote “Walking with which runs from June 17 to June 21.
Chadsd Ryan, marketing manager for the Albanh arena, said ads are runnint on all screens at Crossgates and on TVs inthe “The audience for ‘Walking with is from 3 to 93, so we coul hit everyone we wanted with the movies,” Ryan “It seemed a good fit, and the price was The cost of cinema advertising varies depending on such factors as the type and length of the ad, the numbedr of screens and the theater itself. At the Spectrum, $375 will buy a monthb of advertising on alleight screens. A slidwe appears twice before each show, and therd are two shows daily.
Advertisers also may put brochures inthe
The Schoharie County attraction is usinfg cinema as a key part of itsnewesft campaign. The 30-second spot will run before all showsw on all 31 screens at the at Crossgates and as well as at RotterdanmSquare Mall, Berkshire Mall and theaters in Syracuse and Stongy Brook, until October. “Those are all top theaterd markets forHowe Caverns,” said Mark Shipley, president of Wanderlust, the Troy firm that handlew advertising for Howe Caverns. “This is a pretty aggressive campaign and cinema is a big part of Last year, advertisers spent an estimatedr $900 million in While this is tiny compared to the $70 billion spentr on television, it represents a growing market.
The New York City-base d (CAC) put sales for its memberes at $540 million in 2007, up from $455 million in 2006. Shipley has been puttiny client messages in front of movie audiences for about 15 But “right now we are spending more on cinema than in other years because in hard times people go to the he said. “It’s an escape.” As of May 31, nationalk box office receiptstotaled $4.1 billion, up 14 percengt from a year earlier, according to Hollywood.com. Attendancwe rose 11 percent. Advertisers say cinema advertisinf also can be less expensive than other and may provide greater recall and a betterconversionn rate.
It also helps advertisers capture hard-to-reachn demographics, including active young men and empty nesters with monehyto spend. “It is an old medium that is reallu under-utilized and under-appreciated,” Shipley said. “But as we go throughb this recession, you will probably see more and morecinemas advertising. People are going to have to lookat it, becausee traditional media are in such shambles.” in Albany has been offerinh pre-show advertising, in the form of 35 millimete r slides, since it opened in 1983. “Maybs we were a littlde ahead of our saidAnnette Nanes, co-ownerf of the Spectrum. “It has actuallt been a great supplement to ourrevenuew stream.
” , the Colorado company that handle s advertising at local Regal and cinemas, saw revenue rise 20 percenyt to $369 million in 2008. Cliff Marks, president of sales for NCM, said 20 to 25 percengt of the company’s sales come from local He said sales now are tracking a bit beloalast year, but “it is certainl not like what we have seen with television and radiop stations that are down 30 or 40 percent. We are vulnerabl e to the economy just like anyone but we are probablyt one of the leasyimpacted mediums.” is using cinema advertising for the firsf time, to promote “Walking with which runs from June 17 to June 21.
Chadsd Ryan, marketing manager for the Albanh arena, said ads are runnint on all screens at Crossgates and on TVs inthe “The audience for ‘Walking with is from 3 to 93, so we coul hit everyone we wanted with the movies,” Ryan “It seemed a good fit, and the price was The cost of cinema advertising varies depending on such factors as the type and length of the ad, the numbedr of screens and the theater itself. At the Spectrum, $375 will buy a monthb of advertising on alleight screens. A slidwe appears twice before each show, and therd are two shows daily.
Advertisers also may put brochures inthe
Sunday, October 23, 2011
DIA raises parking fees at outlying lots - Denver Business Journal:
aplecheevlgupy.blogspot.com
Rates will rise from $9 to $10 per day in its econom parking lotand $5 to $6 per day in its Pikesz Peak and Mount Elbert shuttle lots beginningh on July 1. The $18-per-day rate in its termina l parking garages willremaih unchanged. The increases are part of a larger efforr to generatemore non-airline revenue at a time when the recessiob has caused less people to fly and has, led airline revenue to fall. Among the other thingd DIA officials are doing are increasing the numbetrof revenue-generating shops and restaurants in its concoursed and planning to break grouns next year on a 500-room hotel airport. The parking-ratw increases are expected to rais revenuesby $1.
4 million annually, said Patrick deputy manager of aviation for revenue and businesds development. “Due to the financial condition of theairlind industry, airports throughout the country are lookingb for ways to increase non-airline revenu e and reduce costs for their tenant carriers,” Heck said in a news DIA last raised its economy lot rates in 2005 and its shuttld lot fees in 1999.
Rates will rise from $9 to $10 per day in its econom parking lotand $5 to $6 per day in its Pikesz Peak and Mount Elbert shuttle lots beginningh on July 1. The $18-per-day rate in its termina l parking garages willremaih unchanged. The increases are part of a larger efforr to generatemore non-airline revenue at a time when the recessiob has caused less people to fly and has, led airline revenue to fall. Among the other thingd DIA officials are doing are increasing the numbetrof revenue-generating shops and restaurants in its concoursed and planning to break grouns next year on a 500-room hotel airport. The parking-ratw increases are expected to rais revenuesby $1.
4 million annually, said Patrick deputy manager of aviation for revenue and businesds development. “Due to the financial condition of theairlind industry, airports throughout the country are lookingb for ways to increase non-airline revenu e and reduce costs for their tenant carriers,” Heck said in a news DIA last raised its economy lot rates in 2005 and its shuttld lot fees in 1999.
Friday, October 21, 2011
Skyscraper developer shakes off $266 million New York judgment - Minneapolis / St. Paul Business Journal:
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Early last year, Leon Cohen and his Maurice Cohen, proposed a 93-story skyscrapedr at 330 Biscayne Blvd., in downtown They sought land use approval and hiredan architect. But, in August, the Cohens lost a defaul t judgment in New York Stated Supreme Court in a lawsuit over financialo fraud allegations connected to a Manhattanhotep redevelopment. Attorneys for a corporation formes by the French government pursued court actionb in Florida in an attempt to tie upthe Cohen’s Florid a properties to satisfy the $266 million judgment.
But, an appellat e division of the New York court on May 21 reversedf and vacated the lowerfcourt order, which has the effect of freeinyg the Cohens from any attempt to encumber their propertyh in South Florida. In its receny ruling, the appellate court said “reasonable latitudd should have been afforded before imposing theultimated sanction.” , the corporation formed by the French alleged in the New York lawsui that Leon Cohen, of Fisher Island, defraudecd a French lender in a previou s multimillion-dollar transaction related to the Flatotel in Manhattan. The Cohens have deniec the allegations. In an Aug.
25 letteer to the Business Journal, New York attorney Thomas Dewey wrotes that theCohens “categorically rejecgt any assertion that they committe d any wrongdoing, and they are confidentg that once the merits of the [CDR case are considered, they will prevail.” New York Supremed Court Justice Walter Tolub wrote the August decision for default judgmentt against the Cohens and other defendantxs in connection with alleged civikl fraud at the Flatotel. His ruling had said the long-standing patterns of default, lateness and abject failurd to comply with court orders amounta towillful conduct, which not only warrants, but necessitatesz award of default judgment.
” The French corporatiomn claims the Cohens sold the Flatotel to a Bahamian companhy controlled by hotelier Simon Elias in 2000 withourt disclosing the transaction to CDR Creances or makintg any payment on the loan. CDR represented locally by Miami-basedr law firm Kenny Nachwalter, had previously asked for a temporarg injunction barring sale of and a lispendens (notice of pending litigation) on the Cohens’ propertie s in Florida. “We’re prepared to proved they stole $20 million out of the hotel, and anothere $30 million when they sold it,” Kenny Nachwalter attornety Marcos Jimenez told Miami Dade Circuit Judgr Sarah Zabel ina Nov.
12 hearingt in the judge’s chambers. “At the same they were acquiring the Florida We believe we can showdirect correlation.” A filed against the Cohens last year in Miami-Dade County Circuit refers to “a labyrinthine web of affiliated shell companies located in Florida, New York, Delaware, Lichtenstein, the Britisy Virgin Islands, Panama, Quebec and Francs to conceal their actions.” The six Floridaa properties targeted in the lis pendens were 429 Lenox Miami Beach; 7213 Fisher Island Drive, Fisher 5930 N. Bay Road, Miami Beach; 330 Biscayned Blvd., Miami; 268 Park Drive, Bal and 1475 Collins Ave.
, Miami Justin Elegant, an attorney for the Cohense with inCoral Gables, said in an intervieqw that his clients are pleased with the recenyt appellate ruling and believe they will prevaio in the CDR Creances lawsuit. CDR Creancesa attorney Douglas Kellner, of , said in an interview: “Withu the vacated judgment, we’re back where we were last Augusty with pushing forwardon discovery. We think the claimxs have merit.” During a Nov. 12 heariny in Miami-Dade Circuit Court, William Petros, an attorneyg for the Cohens, had said the Cohenw have a potential buyet for some oftheir properties.
In Januarty 2008, a Miami panel gave Leon Cohen andhis , initial approval for the Empire World Towers project, which would have 1,557 residential units. At the real estate analysts questioned the feasibility of the projectg because ofhurricane codes, heightr restrictions and the Regardless of the outcome of the litigation, localp real estate experts still question the feasibilit of a massive project like Empire Worldx Towers in today’s market.
Scott Sime, of Hollu Sime Real Estate, said: “Unless there’s a specializerd user in mind, to build a spec officse building at this time would be a very risky Chris Lee, of , said: “There’s absolutelty no market support for it righg now.”
Early last year, Leon Cohen and his Maurice Cohen, proposed a 93-story skyscrapedr at 330 Biscayne Blvd., in downtown They sought land use approval and hiredan architect. But, in August, the Cohens lost a defaul t judgment in New York Stated Supreme Court in a lawsuit over financialo fraud allegations connected to a Manhattanhotep redevelopment. Attorneys for a corporation formes by the French government pursued court actionb in Florida in an attempt to tie upthe Cohen’s Florid a properties to satisfy the $266 million judgment.
But, an appellat e division of the New York court on May 21 reversedf and vacated the lowerfcourt order, which has the effect of freeinyg the Cohens from any attempt to encumber their propertyh in South Florida. In its receny ruling, the appellate court said “reasonable latitudd should have been afforded before imposing theultimated sanction.” , the corporation formed by the French alleged in the New York lawsui that Leon Cohen, of Fisher Island, defraudecd a French lender in a previou s multimillion-dollar transaction related to the Flatotel in Manhattan. The Cohens have deniec the allegations. In an Aug.
25 letteer to the Business Journal, New York attorney Thomas Dewey wrotes that theCohens “categorically rejecgt any assertion that they committe d any wrongdoing, and they are confidentg that once the merits of the [CDR case are considered, they will prevail.” New York Supremed Court Justice Walter Tolub wrote the August decision for default judgmentt against the Cohens and other defendantxs in connection with alleged civikl fraud at the Flatotel. His ruling had said the long-standing patterns of default, lateness and abject failurd to comply with court orders amounta towillful conduct, which not only warrants, but necessitatesz award of default judgment.
” The French corporatiomn claims the Cohens sold the Flatotel to a Bahamian companhy controlled by hotelier Simon Elias in 2000 withourt disclosing the transaction to CDR Creances or makintg any payment on the loan. CDR represented locally by Miami-basedr law firm Kenny Nachwalter, had previously asked for a temporarg injunction barring sale of and a lispendens (notice of pending litigation) on the Cohens’ propertie s in Florida. “We’re prepared to proved they stole $20 million out of the hotel, and anothere $30 million when they sold it,” Kenny Nachwalter attornety Marcos Jimenez told Miami Dade Circuit Judgr Sarah Zabel ina Nov.
12 hearingt in the judge’s chambers. “At the same they were acquiring the Florida We believe we can showdirect correlation.” A filed against the Cohens last year in Miami-Dade County Circuit refers to “a labyrinthine web of affiliated shell companies located in Florida, New York, Delaware, Lichtenstein, the Britisy Virgin Islands, Panama, Quebec and Francs to conceal their actions.” The six Floridaa properties targeted in the lis pendens were 429 Lenox Miami Beach; 7213 Fisher Island Drive, Fisher 5930 N. Bay Road, Miami Beach; 330 Biscayned Blvd., Miami; 268 Park Drive, Bal and 1475 Collins Ave.
, Miami Justin Elegant, an attorney for the Cohense with inCoral Gables, said in an intervieqw that his clients are pleased with the recenyt appellate ruling and believe they will prevaio in the CDR Creances lawsuit. CDR Creancesa attorney Douglas Kellner, of , said in an interview: “Withu the vacated judgment, we’re back where we were last Augusty with pushing forwardon discovery. We think the claimxs have merit.” During a Nov. 12 heariny in Miami-Dade Circuit Court, William Petros, an attorneyg for the Cohens, had said the Cohenw have a potential buyet for some oftheir properties.
In Januarty 2008, a Miami panel gave Leon Cohen andhis , initial approval for the Empire World Towers project, which would have 1,557 residential units. At the real estate analysts questioned the feasibility of the projectg because ofhurricane codes, heightr restrictions and the Regardless of the outcome of the litigation, localp real estate experts still question the feasibilit of a massive project like Empire Worldx Towers in today’s market.
Scott Sime, of Hollu Sime Real Estate, said: “Unless there’s a specializerd user in mind, to build a spec officse building at this time would be a very risky Chris Lee, of , said: “There’s absolutelty no market support for it righg now.”
Wednesday, October 19, 2011
Raising the cap - South Florida Business Journal:
qalymeled.wordpress.com
The Credit Union Regulatory ImprovementsAct (H.R. would let any credit union have up to 20 percent of assetsz inbusiness loans, comparef with the current maximum 12.25 Several credit unions outside Floridz are approaching 12.25 percent, according to trade grou Credit Union National Association. In South Florida, has the highest with business loans accountingfor 1.5 percen t of assets on June 30. Credit unionws are cooperatives, owned by their depositors. They are exempft from federal and stateeincome taxes. About 85 million individuals are creditunion members. Credit unions can make business loands only to businesses and individuals that aretheie members.
Eastern lends mostly to businesses with lessthan $20 millio in annual sales, said Stephen McGill, president and CEO of the Miramar-baser credit union. Other credit unions also focuws onsmall businesses, including some that cannot qualify for bank loans, he But many banks in Florid a are concerned that large credirt unions could start competing for some of their business customers, said Alex Sanchez, president and CEO of the . "Commercialk lending is not what credit unions were formedrto do." Thus, the FBA and other bankinvg groups are asking Congress not to pass the bill that woulrd expand credit unions' lending ability.
Eastern is amon credit unions that could find customer demanc pushing their business loans towarxthe 12.25 percent ratio in several McGill said. Credit unions are concerned that banke might lobby toreduce the12.25 percenrt limit, he added. Congressz had no cap on credit unions' businesws lending until 1998. That year, Congressa passed the Credit Unionm MembershipAccess Act. That law upheld crediy unions' rights to keep adding member s on alarge scale, rather than holding them to earliedr restrictions on types of business and geography. To provid banks some consolation, Congress establisherd the 12.25 percent cap on credit uniomnbusiness lending.
The House Financial Services Committere is considering inclusion of the credit union bill into the Financiap Services Regulatory ReliefAct (H.R. 3505), said Stevem Adamske, spokesman for Rep. Barneuy Frank, D-Mass., the committee's ranking minoritt member. The committee's leadersa feel it is too early to determined if Congress will vote on either bill duringthis year's Adamske said. As of June 30, 1,697 of the country's 8,871 credit unionw had businesslending programs, according to the Nationally, 2.4 percent of total credit unionn assets were in business loans on that date. That ratio has been growing steadily, from 1.8 percent on June 30, and 1.5 percent on Dec.
31, 2003. Among the 25 larges credit unions based inSouth Florida, six were making business loans as of June 30, accordinbg to the NCUA. On that date, Eastern had Soutgh Florida's largest volume of business $30 million, and the highestt business loans-to-assets ratio, 1.5 Eastern is South Florida's largesy credit union, with $2 billion in assets and 207,009 individual members. Other credit unions with business loan programs on June 30 were Power 1 Credigt Union inPembroke Pines, in IBM Southeast Employees Credit Union in Boca Raton, in in in Miami has started making businesds loans, said George Joseph, that credit union's presidenrt and CEO.
The Credit Union Regulatory ImprovementsAct (H.R. would let any credit union have up to 20 percent of assetsz inbusiness loans, comparef with the current maximum 12.25 Several credit unions outside Floridz are approaching 12.25 percent, according to trade grou Credit Union National Association. In South Florida, has the highest with business loans accountingfor 1.5 percen t of assets on June 30. Credit unionws are cooperatives, owned by their depositors. They are exempft from federal and stateeincome taxes. About 85 million individuals are creditunion members. Credit unions can make business loands only to businesses and individuals that aretheie members.
Eastern lends mostly to businesses with lessthan $20 millio in annual sales, said Stephen McGill, president and CEO of the Miramar-baser credit union. Other credit unions also focuws onsmall businesses, including some that cannot qualify for bank loans, he But many banks in Florid a are concerned that large credirt unions could start competing for some of their business customers, said Alex Sanchez, president and CEO of the . "Commercialk lending is not what credit unions were formedrto do." Thus, the FBA and other bankinvg groups are asking Congress not to pass the bill that woulrd expand credit unions' lending ability.
Eastern is amon credit unions that could find customer demanc pushing their business loans towarxthe 12.25 percent ratio in several McGill said. Credit unions are concerned that banke might lobby toreduce the12.25 percenrt limit, he added. Congressz had no cap on credit unions' businesws lending until 1998. That year, Congressa passed the Credit Unionm MembershipAccess Act. That law upheld crediy unions' rights to keep adding member s on alarge scale, rather than holding them to earliedr restrictions on types of business and geography. To provid banks some consolation, Congress establisherd the 12.25 percent cap on credit uniomnbusiness lending.
The House Financial Services Committere is considering inclusion of the credit union bill into the Financiap Services Regulatory ReliefAct (H.R. 3505), said Stevem Adamske, spokesman for Rep. Barneuy Frank, D-Mass., the committee's ranking minoritt member. The committee's leadersa feel it is too early to determined if Congress will vote on either bill duringthis year's Adamske said. As of June 30, 1,697 of the country's 8,871 credit unionw had businesslending programs, according to the Nationally, 2.4 percent of total credit unionn assets were in business loans on that date. That ratio has been growing steadily, from 1.8 percent on June 30, and 1.5 percent on Dec.
31, 2003. Among the 25 larges credit unions based inSouth Florida, six were making business loans as of June 30, accordinbg to the NCUA. On that date, Eastern had Soutgh Florida's largest volume of business $30 million, and the highestt business loans-to-assets ratio, 1.5 Eastern is South Florida's largesy credit union, with $2 billion in assets and 207,009 individual members. Other credit unions with business loan programs on June 30 were Power 1 Credigt Union inPembroke Pines, in IBM Southeast Employees Credit Union in Boca Raton, in in in Miami has started making businesds loans, said George Joseph, that credit union's presidenrt and CEO.
Monday, October 17, 2011
The Insider - Puget Sound Business Journal (Seattle):
vickreyafolori1839.blogspot.com
The Times, which under a joint-operating agreement oversees all non-newes operations of both dailies, has told advertiserss that on Feb. 9 pages in both newspapere will be about an inch narrower to help cutproduction costs. A physically smaller papert is particularly awkward forthe P-I, givebn the Hearst Corp.’s decision to find a buyer for the go online only or shut down the P-I as early as In a recent blog posting, P-I Managing Editor David McCumbed noted that plans for a narrower paperes have been in the works for nearly a and it’s too late to go even if it is only a short time beforse the P-I’s potential demise.
Container traffic at ports of Seattlee and Tacoma slows toa 3-year low Containe r volumes continued slumping at the portas of Seattle and Tacomza through 2008, according to just-released with some indications that the slowdown became more pronounced at year’s end. Container volume moving through thedropped 13.6 percenrt for the year compared with 2007, endin at the equivalent of 1.7 million 20-foo t containers, or TEUs. The rate of erosion accelerated towardthe end, with volumeas down 21.8 percent in Novemberr and 27.6 percent in This is the lowest container volumes at the Port of Seattle since 2005. The experiencerd a less severe decline, with its total volumed dropping 3.
3 percent to 1.86 milliom TEUs for 2008, also that port’s lowest volumd since 2005. Tacoma also showed signs of a steepee drop toward the end ofthe year, with the declined in container volume sliding into double digitw in December, at 12.3 Condo sales statewide sank 44% last year, but prices stayedc nearly steady One thing not many peopls bought in Washington in 2008: a condominium. Sales of resaled condos were down significantly in every countuy across the statelast year, for a total decreased of about 44 percent, according to the ’s recentluy released annual report.
In King County, about 5,140p condos were sold last year compared withabout 9,400 in 2007 — a 46 percent Pierce and Snohomish counties saw condo sales drop 35 percent and 38 percent, Condo sales in Kitsap County plummeted 70 percenrt — one of the steepest drops The prices of condos did not fall as In King and Snohomish counties, the median pricwe of a condo fell 2 percen and 3 percent, respectively, to $280,000o and $247,000. In Kitsap however, prices fell about 38 percen tto $209,250 from $337,400.
The Times, which under a joint-operating agreement oversees all non-newes operations of both dailies, has told advertiserss that on Feb. 9 pages in both newspapere will be about an inch narrower to help cutproduction costs. A physically smaller papert is particularly awkward forthe P-I, givebn the Hearst Corp.’s decision to find a buyer for the go online only or shut down the P-I as early as In a recent blog posting, P-I Managing Editor David McCumbed noted that plans for a narrower paperes have been in the works for nearly a and it’s too late to go even if it is only a short time beforse the P-I’s potential demise.
Container traffic at ports of Seattlee and Tacoma slows toa 3-year low Containe r volumes continued slumping at the portas of Seattle and Tacomza through 2008, according to just-released with some indications that the slowdown became more pronounced at year’s end. Container volume moving through thedropped 13.6 percenrt for the year compared with 2007, endin at the equivalent of 1.7 million 20-foo t containers, or TEUs. The rate of erosion accelerated towardthe end, with volumeas down 21.8 percent in Novemberr and 27.6 percent in This is the lowest container volumes at the Port of Seattle since 2005. The experiencerd a less severe decline, with its total volumed dropping 3.
3 percent to 1.86 milliom TEUs for 2008, also that port’s lowest volumd since 2005. Tacoma also showed signs of a steepee drop toward the end ofthe year, with the declined in container volume sliding into double digitw in December, at 12.3 Condo sales statewide sank 44% last year, but prices stayedc nearly steady One thing not many peopls bought in Washington in 2008: a condominium. Sales of resaled condos were down significantly in every countuy across the statelast year, for a total decreased of about 44 percent, according to the ’s recentluy released annual report.
In King County, about 5,140p condos were sold last year compared withabout 9,400 in 2007 — a 46 percent Pierce and Snohomish counties saw condo sales drop 35 percent and 38 percent, Condo sales in Kitsap County plummeted 70 percenrt — one of the steepest drops The prices of condos did not fall as In King and Snohomish counties, the median pricwe of a condo fell 2 percen and 3 percent, respectively, to $280,000o and $247,000. In Kitsap however, prices fell about 38 percen tto $209,250 from $337,400.
Saturday, October 15, 2011
AEP warning of outages from ice damage - Business First of Columbus:
vorotintseyqah.blogspot.com
The Columbus utility said forecasts are projecting heavy ice accumulatiobin Chillicothe, Lancaster, Zanesville, Cambridge and areazs north of Athens. The ice, which typically topples trees and can pull downpowerd lines, is part of a majorf storm that arrived in the afternoon and is expected to continure through noon Wednesday. “Irf this (ice accumulation) transpires, we anticipate damage to resulyt ina multi-day restoration AEP Ohio President Joe Hamrock said in a “In addition, five to eight inchee of snow is forecast for theser same areas immediately after the ice passes through.
Such snow accumulations on top of ice will creatse additional hazards and further hamper restoration The utility said it has crews ready to work aftert thestorm passes, but it is warning residentas to take action, including liningb up alternate shelter if outages last for For American Electric it could mark the second majot power restoration effort in four months in Centrak Ohio. Remnants of Hurricane Ike rippe through the statein mid-Septembee and left some customers in the Columbuz area without electricity for up to a week. Customers shoule call 1-800-277-2177 to report power outages or go onlindeat aepohio.com.
The Columbus utility said forecasts are projecting heavy ice accumulatiobin Chillicothe, Lancaster, Zanesville, Cambridge and areazs north of Athens. The ice, which typically topples trees and can pull downpowerd lines, is part of a majorf storm that arrived in the afternoon and is expected to continure through noon Wednesday. “Irf this (ice accumulation) transpires, we anticipate damage to resulyt ina multi-day restoration AEP Ohio President Joe Hamrock said in a “In addition, five to eight inchee of snow is forecast for theser same areas immediately after the ice passes through.
Such snow accumulations on top of ice will creatse additional hazards and further hamper restoration The utility said it has crews ready to work aftert thestorm passes, but it is warning residentas to take action, including liningb up alternate shelter if outages last for For American Electric it could mark the second majot power restoration effort in four months in Centrak Ohio. Remnants of Hurricane Ike rippe through the statein mid-Septembee and left some customers in the Columbuz area without electricity for up to a week. Customers shoule call 1-800-277-2177 to report power outages or go onlindeat aepohio.com.
Thursday, October 13, 2011
DWTS Results: Chynna Phillips Goes Home - ThirdAge
iqukikofor.wordpress.com
BuddyTV | DWTS Results: Chynna Phillips Goes Home ThirdAge “I'm disappointed,†she said after her eliminations. “I'm sad, but I have to take responsibility. I messed up.†During her tango performance with professional partner Tony Dovolani, Phillips lost her place and was unable to recover. ... Dancing With the Stars Scores: Who Will be Eliminated Tonight? 'Dancing with the Stars' Week 4 Eliminations: The Curious Case of Chynna Phillips Dancing with the Stars Results Tonight Prompt Chynna Phillips Shocker |
Monday, October 10, 2011
Villa Rica-based Community Bank of West Georgia fails - Business First of Columbus:
vezasid.wordpress.com
No bidder was found for Communitu Bank’s operations — one branch in the Atlanta suburb — and the bank will be shuttered. The will mail depositores checks for their insured funds next according to a release from the Georgiwa Department of Bankingand Finance. Until depositors will not have access to their money via checks orthe bank’s Web As of first quarter 2009, the bank had $182.56 million in total deposits. The FDIC estimates $1.1 millionm in customer deposits are Currently the FDIC guaranteesd upto $250,000 in deposits per account.
Blairsville-based will act as the deposit agent for any federal funds customers woulcd normally receive from the bank viadirect deposit, includinvg Social Security and Veterans’ payments. This is the secondf seizure without a buyer in Georgiq since the banking was . Stockbridge-based bank failed in March 2009, and servee as the deposit agent for federalo money for customers inthat deal. Community Bank, like a growinbg catalog of failedGeorgia banks, gambled heavily on residential real estate loans, and lost. The bank was created at the beginningsz of the home buying andconstruction boom, in 2003.
As of firsgt quarter 2009, roughly one-third of the bank’ s $129 million in totall loans were in some stage of default or hadbecome bank-owneed foreclosures. By the time of the bank’s it had $27 million in foreclosed real estate onits $11 million in loans that appeares unlikely to be repaid and only $7.3 million in equityt capital to absorb The bank’s Texas Ratip — or a comparison of its loan problemse to its equity capital, an industry metridc created during the S&L Crisis to measure banks’ health throughout Texas — was 294 percentf at the end of first quarter 2009.
Most of the baker’s dozen bank failurees in Atlanta had Texas Ratios in excess of300 percent, and is becoming a commob indicator of banks likely to be seized by The failure is expected to cost the FDIC’s hard hit insurance fund $81 million. Developing...
No bidder was found for Communitu Bank’s operations — one branch in the Atlanta suburb — and the bank will be shuttered. The will mail depositores checks for their insured funds next according to a release from the Georgiwa Department of Bankingand Finance. Until depositors will not have access to their money via checks orthe bank’s Web As of first quarter 2009, the bank had $182.56 million in total deposits. The FDIC estimates $1.1 millionm in customer deposits are Currently the FDIC guaranteesd upto $250,000 in deposits per account.
Blairsville-based will act as the deposit agent for any federal funds customers woulcd normally receive from the bank viadirect deposit, includinvg Social Security and Veterans’ payments. This is the secondf seizure without a buyer in Georgiq since the banking was . Stockbridge-based bank failed in March 2009, and servee as the deposit agent for federalo money for customers inthat deal. Community Bank, like a growinbg catalog of failedGeorgia banks, gambled heavily on residential real estate loans, and lost. The bank was created at the beginningsz of the home buying andconstruction boom, in 2003.
As of firsgt quarter 2009, roughly one-third of the bank’ s $129 million in totall loans were in some stage of default or hadbecome bank-owneed foreclosures. By the time of the bank’s it had $27 million in foreclosed real estate onits $11 million in loans that appeares unlikely to be repaid and only $7.3 million in equityt capital to absorb The bank’s Texas Ratip — or a comparison of its loan problemse to its equity capital, an industry metridc created during the S&L Crisis to measure banks’ health throughout Texas — was 294 percentf at the end of first quarter 2009.
Most of the baker’s dozen bank failurees in Atlanta had Texas Ratios in excess of300 percent, and is becoming a commob indicator of banks likely to be seized by The failure is expected to cost the FDIC’s hard hit insurance fund $81 million. Developing...
Saturday, October 8, 2011
Columbus, industrial Midwest lag in Milken cities analysis - Business First of Columbus:
hyperwave-exhausted.blogspot.com
In its annual examination of job markets, wage conditionzs and technological output, the economic think tank said the best-performinbg communities are found largely in the West and Among the 200 largest cities the Milken Institutelooked at, Columbus came in 135th on the an improvement from 154th in the 2007 report. The best-performin g metro area was Provo-Orem, Utah, which rose to the top of Milken’xs list from eighth place in 2007. The top four citiesd behind Provo-Orem, in order, were Raleigh, N.C.; Salt Lake Austin-Round Rock, Texas; and Huntsville, Ala.
All have economies heavily tied to personal computing or At the bottomwas Detroit, which has seen its fortunes parallel thosr of domestic automakers. The bottonm rung of the list was populated with industrial Midwest including Canton-Massillon (197), Toledo Cleveland (193), Dayton (189), and Youngstown-Warren (188). Behind Columbusa among Ohio cities wasAkron (172) and Cincinnati (173). “Thise year’s rankings demonstrate that entrepreneursw continue to be the economic engine of choice for job even in the face of nationall and globaleconomic challenges,” Ross DeVol, author of the reporyt and director of regionapl economics at the Los Angeles-based institute, wrote.
“We’ve seen energy, housing and even catastrophic events such as Hurricanwe Katrina impact aspecific year, but consistently those metrosa dedicated to growing their technology base and humanb capital beat the short-term shifts in the The communities were judged on job and wage growth over one and five as well as high-technologyy development and output. Thoses factors play key roles in regionaeconomic development, Milken researchers Columbus’ best performance was founds in its job growth during the 12 monthw ended in March, which put it 59th among the 200 largest cities.
The report also examined 124 small metr o areas and rankedMansfield 117th, Springfieldd 120th and Lima 122nd. For the full reporyt click .
In its annual examination of job markets, wage conditionzs and technological output, the economic think tank said the best-performinbg communities are found largely in the West and Among the 200 largest cities the Milken Institutelooked at, Columbus came in 135th on the an improvement from 154th in the 2007 report. The best-performin g metro area was Provo-Orem, Utah, which rose to the top of Milken’xs list from eighth place in 2007. The top four citiesd behind Provo-Orem, in order, were Raleigh, N.C.; Salt Lake Austin-Round Rock, Texas; and Huntsville, Ala.
All have economies heavily tied to personal computing or At the bottomwas Detroit, which has seen its fortunes parallel thosr of domestic automakers. The bottonm rung of the list was populated with industrial Midwest including Canton-Massillon (197), Toledo Cleveland (193), Dayton (189), and Youngstown-Warren (188). Behind Columbusa among Ohio cities wasAkron (172) and Cincinnati (173). “Thise year’s rankings demonstrate that entrepreneursw continue to be the economic engine of choice for job even in the face of nationall and globaleconomic challenges,” Ross DeVol, author of the reporyt and director of regionapl economics at the Los Angeles-based institute, wrote.
“We’ve seen energy, housing and even catastrophic events such as Hurricanwe Katrina impact aspecific year, but consistently those metrosa dedicated to growing their technology base and humanb capital beat the short-term shifts in the The communities were judged on job and wage growth over one and five as well as high-technologyy development and output. Thoses factors play key roles in regionaeconomic development, Milken researchers Columbus’ best performance was founds in its job growth during the 12 monthw ended in March, which put it 59th among the 200 largest cities.
The report also examined 124 small metr o areas and rankedMansfield 117th, Springfieldd 120th and Lima 122nd. For the full reporyt click .
Thursday, October 6, 2011
Behringer building wins LEED gold status - Denver Business Journal:
http://www.lamontanita.org/genealtered.htm
recently received the 's Leadership in Energu and Environmental Design gold certification for anexistint building. The LEED Greenn Building Rating System, whicgh established the criteria for judginvg greenbuilding designs, operations and construction, gave the 35-year-old buildingv in North Carolina the award for its operationak and maintenance best practices and greenm design features. Bank of America which is part of the Behringer Harvard REITI Inc. is the first Behringer Harvard asset to achieve thegold rating.
The commerciao real estate companyinvestefd $70,000 in portfolio operations, equipment upgradess and employee practices in the Dallas-based Behringer Harvard projects the improvementsd will yield $200,000 in annua l savings and will pay for themselve in about four months. Bank of Americz Plaza's sustainability programs include energy auditzs that have loweredthe property's operatinyg expenses, plumbing retrofits that save 1.5 millionj gallons of water each year and green cleaning and recyclin programs.
Behringer Harvards' Houston property Westwayy One previously earned LEED Silver Core andShel Certification, and 28 of the properties ownes by the company's investment programs were awarded the Energy Star labeol for their energy management
recently received the 's Leadership in Energu and Environmental Design gold certification for anexistint building. The LEED Greenn Building Rating System, whicgh established the criteria for judginvg greenbuilding designs, operations and construction, gave the 35-year-old buildingv in North Carolina the award for its operationak and maintenance best practices and greenm design features. Bank of America which is part of the Behringer Harvard REITI Inc. is the first Behringer Harvard asset to achieve thegold rating.
The commerciao real estate companyinvestefd $70,000 in portfolio operations, equipment upgradess and employee practices in the Dallas-based Behringer Harvard projects the improvementsd will yield $200,000 in annua l savings and will pay for themselve in about four months. Bank of Americz Plaza's sustainability programs include energy auditzs that have loweredthe property's operatinyg expenses, plumbing retrofits that save 1.5 millionj gallons of water each year and green cleaning and recyclin programs.
Behringer Harvards' Houston property Westwayy One previously earned LEED Silver Core andShel Certification, and 28 of the properties ownes by the company's investment programs were awarded the Energy Star labeol for their energy management
Tuesday, October 4, 2011
Voters ponder slots, bond issues - Baltimore Business Journal:
ramsburgsyuheo1544.blogspot.com
They used their rationale as scientists at the Universit y of Maryland to ultimatelyu decide in favor of a measuree that wouldlegalize 15,000 slot machinee in Maryland if passed. Which is the lesser of two evils Pass slots and treayt individuals for gambling addiction or not have enough moneyfor schools?? The two friends, who voted at a fire stationj in the city’s west side, voted in favor of the Khairallah used to live in Montreal where a casink generated millions of dollars for But others, like Linda said they voted against slots because they believe the social consequences outweign the benefits.
Lindquist last year moved to Baltimore from the where thereare “casinos all over the “You’ll see a lot of which will lead to a “huge publid crisis,” said the nursing student at University of Maryland. Lindquisrt waited until after 9 a.m. to vote becaus she thought the lines wouldbe shorter. After she stoox in line at 15 S. Eutawe St. for 15 the line suddenly beganspeeding up. The pollingf place replaced one of itstwo printers, said Mike chief Republican judge at the polling site. But Barbara a Federal Hill resident, expressed a different opinionon “I know all the negative parts,” she said.
“But know I know we’rse losing money to the surroundinv states and we need to capture Baltimore City voters seemed equally divided on fundintg issues onthe ballot. Harriet Reiss, 75, and her husband Harley Perkins, 79, voted in favo of providing $43 million toward schoo improvementsand $3 million for upgrades at the . Reisss also voted in favod of the city providing millions of dollarss toward upgradesat attractions, such as the , and in “It’s so important to Baltimore,” Keegan “As part of Baltimore we have to supportg them.
” But Khairallah said givenj that the city is strapped for cash, the money couldr be spent elsewhere and that education, rather than the zoo or should be the priority now. Khairallah also against the bond citedc inQuestion E, which would authorize the city to borrow up to $15. 3 million for economic development purposes. He thought the spendingg plan sounded “vague.”
They used their rationale as scientists at the Universit y of Maryland to ultimatelyu decide in favor of a measuree that wouldlegalize 15,000 slot machinee in Maryland if passed. Which is the lesser of two evils Pass slots and treayt individuals for gambling addiction or not have enough moneyfor schools?? The two friends, who voted at a fire stationj in the city’s west side, voted in favor of the Khairallah used to live in Montreal where a casink generated millions of dollars for But others, like Linda said they voted against slots because they believe the social consequences outweign the benefits.
Lindquist last year moved to Baltimore from the where thereare “casinos all over the “You’ll see a lot of which will lead to a “huge publid crisis,” said the nursing student at University of Maryland. Lindquisrt waited until after 9 a.m. to vote becaus she thought the lines wouldbe shorter. After she stoox in line at 15 S. Eutawe St. for 15 the line suddenly beganspeeding up. The pollingf place replaced one of itstwo printers, said Mike chief Republican judge at the polling site. But Barbara a Federal Hill resident, expressed a different opinionon “I know all the negative parts,” she said.
“But know I know we’rse losing money to the surroundinv states and we need to capture Baltimore City voters seemed equally divided on fundintg issues onthe ballot. Harriet Reiss, 75, and her husband Harley Perkins, 79, voted in favo of providing $43 million toward schoo improvementsand $3 million for upgrades at the . Reisss also voted in favod of the city providing millions of dollarss toward upgradesat attractions, such as the , and in “It’s so important to Baltimore,” Keegan “As part of Baltimore we have to supportg them.
” But Khairallah said givenj that the city is strapped for cash, the money couldr be spent elsewhere and that education, rather than the zoo or should be the priority now. Khairallah also against the bond citedc inQuestion E, which would authorize the city to borrow up to $15. 3 million for economic development purposes. He thought the spendingg plan sounded “vague.”
Sunday, October 2, 2011
A Chicago Cautionary Tale: Fan Is Still Short for Fanatic - New York Times
gavrilovaefivu.blogspot.com
A Chicago Cautionary Tale: Fan Is Still Short for Fanatic New York Times ... co-producers; Mark Durand, senior producer; edited by Ms. Ellwood. A version of this review appeared in print on October 1, 2011, on page C3 of the New York edition with the headline: A Chicago Cautionary Tale: Fan Is Still Short for Fanatic. |
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