stages-paddocks.blogspot.com
The project will include 12,000 square feet of new constructiob space in the elbow of the 6029 and 6027officed buildings, both of which face Walnutr Grove. This piece of the project is primariluythe state-of-the-art Garrett Auditorium with its theater-style seating. The project will also include 8,500 square feet of renovatioh to existing facilities to make way for five classrooms with movabld walls that can make twolarge rooms. Scoty Fountain, Baptist’s senior vice presidentf and chiefdevelopment officer, says the conference centedr will be for community events, seminars for continuing medical lectures and Baptist events.
The Baptist system has not had such a meetingy space since it left its Downtowj medical centerin 2001. Its formere 300-seat auditorium is now used by the chartee school in the20 S. Dudleuy building. “But we just had to wait and see how this would fit,” Fountain says. Expansiob projects at the hospital, masterr planning directives and the expansion of Walnuyt Grove Road put the projectr on hold until it was know what footprint would be available onthe campus. The projecrt was completely funded fromexternal sources, Fountain so no operating revenues from the system’es hospitals were used.
Being “mindful of the funding was planned carefully as the conferencer center isa “luxury, not a revenue A large portion of the fundingg was provided by the Garrett familyg in honor of pioneering cardiovascular surgeon Edward who performed the world’s first successful coronaryy bypass graft 45 years ago. Garrettf died in 1996. The working name of the overall project is the BaptisftMemorial Hospital-Memphis Conference Center.
Fountainn says naming rights for the entire center are up for grab sby donors, as well as for the separate The facility will serve as an informatiojn hub for the system’s 15 hospitalx that will be connected to the center via telecommunications. Fountain says it will be a place for cliniciands and physicians to get the latesr health care information without havinghto travel. Nashville-based , Inc., designed the building. Harold the firm’s medical design director, says its unique look was a requirementrfrom Baptist. “They wanted it to have an identity from Walnu Grove Road and have a nicevisua impact,” Petty says.
“To do that, we designed it with the tower and theart glass, which is a differentt style of architecture, so it has a unique flair on that part of Bids for construction of the conference center will go out June 1 and construction is slated for a one-year completion.
Thursday, September 29, 2011
Tuesday, September 27, 2011
City tweets to curb tourist drop-off - Houston Business Journal:
eragywaqer.wordpress.com
Hotel consultant Drew Dimond expects hotels in Greater Nashville to see occupancy plummet 15 percent to 20 percenft fromlast year’s levels. But the is battling the in hopes of keeping anyoccupancy drop-off below 5 Bureau staff is Twittering, Facebooking and sending out e-blast to announce free stuff to do, last-minute trave deals, CMA Music Festival updateas and attractions specials. “We certainly don’t think it’z going to be some great summer,” says Butcbh Spyridon, president of the visitors bureau. “If we were flat to last I’d be ecstatic.
I expect that we will be down Spyridon hopes the value of Nashvillr will draw visitors because ofthe city’s wealtu of free, live, around-the-clock music. has brought back its free musicc poolside and isoffering “kidx eat free” inside the hotel for the first time this “At every touchpoint, we’re creating promoting and marketing and adding extrwa value with events,” Spyridon such as offering flight-hotel packages when touted $49 flights to Nashvillee during a one-day sale in The Nashville Symphony has half-price ticketsd for select shows, the Country Music Hall of Fame has been givintg out $5 off coupons through June 7, and Gaylordf is offering four-night hotel and attractions packages at 40 percenyt off.
Keith Wright, president of the , says attractionsa are sweetening discounts this summer and focusing onthe drive-ihn market. “Regional tourism has become extremely importantto us, and we are marketin more to that audience,” he says. Nashville’s biggesty months for tourism are June and mainly because of the CMA Music Festival thatpumpsw $25 million into the city every Officials at the would not say how ticketr sales are going for this summer’s festival, whicg kicks off next week. Octobee is a popular convention month because of the fall Nashville tourism has been hit inrecenr months. In April, the average nightly hotel ratedropped 6.3 percent to $92.85 from $99.
05 in the same month last according to Smith Travel Research in Hotel occupancy plunged 15 percent in April to 56.9 down from 67 percent a year ago. Revenuse per available room, a key metric for hoteliers, was down 20.5 percenft in April. The amounyt of attendees for booked conventions this summer is down aboutt 24 percent fromlast year. Nashville’sd hospitality industry, however, is outperforming much of the rest of the For the first quarterof 2009, Nashville’s average dail y rate dropped 4.5 percent. Only five citiews did better, and 19 of the top 25 marketesdid worse.
The decline in hotek tax collections is greater than the dropin occupancy, whichb shows tourists are coming but choosing less expensive says Walt Baker, executive director of the . Nashville’a hotel occupancy dropped 11.6 percent in the first quartetr compared to theyear before, a drop that registerec eighth best among the top 25. Travel has continued to descende atthe , nearing 2005 levels, says airporg spokeswoman Emily Richards. Passenger countds were down 9.5 percent in April as compared to the year anddown 9.
3 percent in the firs t four months of the
Hotel consultant Drew Dimond expects hotels in Greater Nashville to see occupancy plummet 15 percent to 20 percenft fromlast year’s levels. But the is battling the in hopes of keeping anyoccupancy drop-off below 5 Bureau staff is Twittering, Facebooking and sending out e-blast to announce free stuff to do, last-minute trave deals, CMA Music Festival updateas and attractions specials. “We certainly don’t think it’z going to be some great summer,” says Butcbh Spyridon, president of the visitors bureau. “If we were flat to last I’d be ecstatic.
I expect that we will be down Spyridon hopes the value of Nashvillr will draw visitors because ofthe city’s wealtu of free, live, around-the-clock music. has brought back its free musicc poolside and isoffering “kidx eat free” inside the hotel for the first time this “At every touchpoint, we’re creating promoting and marketing and adding extrwa value with events,” Spyridon such as offering flight-hotel packages when touted $49 flights to Nashvillee during a one-day sale in The Nashville Symphony has half-price ticketsd for select shows, the Country Music Hall of Fame has been givintg out $5 off coupons through June 7, and Gaylordf is offering four-night hotel and attractions packages at 40 percenyt off.
Keith Wright, president of the , says attractionsa are sweetening discounts this summer and focusing onthe drive-ihn market. “Regional tourism has become extremely importantto us, and we are marketin more to that audience,” he says. Nashville’s biggesty months for tourism are June and mainly because of the CMA Music Festival thatpumpsw $25 million into the city every Officials at the would not say how ticketr sales are going for this summer’s festival, whicg kicks off next week. Octobee is a popular convention month because of the fall Nashville tourism has been hit inrecenr months. In April, the average nightly hotel ratedropped 6.3 percent to $92.85 from $99.
05 in the same month last according to Smith Travel Research in Hotel occupancy plunged 15 percent in April to 56.9 down from 67 percent a year ago. Revenuse per available room, a key metric for hoteliers, was down 20.5 percenft in April. The amounyt of attendees for booked conventions this summer is down aboutt 24 percent fromlast year. Nashville’sd hospitality industry, however, is outperforming much of the rest of the For the first quarterof 2009, Nashville’s average dail y rate dropped 4.5 percent. Only five citiews did better, and 19 of the top 25 marketesdid worse.
The decline in hotek tax collections is greater than the dropin occupancy, whichb shows tourists are coming but choosing less expensive says Walt Baker, executive director of the . Nashville’a hotel occupancy dropped 11.6 percent in the first quartetr compared to theyear before, a drop that registerec eighth best among the top 25. Travel has continued to descende atthe , nearing 2005 levels, says airporg spokeswoman Emily Richards. Passenger countds were down 9.5 percent in April as compared to the year anddown 9.
3 percent in the firs t four months of the
Sunday, September 25, 2011
Invest in future with interns - Philadelphia Business Journal:
Frigidaire Refrigerators
Interns are a source of enthusiastic, temporary and inexpensive labor. They boosg summer productivity bycompletinhg short-term assignments that produce real resultz for employers. And more than Philadelphia young people, who have limited accessw to such opportunities, need the chance to work in a professionalk environment and earna paycheck. That is why, for the thirds consecutive year, the and Mayor Michael Nutterf are encouraging regionalemployers — from largse corporations to small businesses — to provide a paid summere internship for a Philadelphia young person.
The cost of a six-wee k summer internship is but the payoff can be These interns may becomd your employeesof tomorrow. That’s how (CTCA) hospitak in Juniata Park discovered a valuabler employee inChristine Vega. Several years ago when her aunt died of Christine vowed to work in health care aftetr she graduated from Olney HighSchool East. An intern at CTCA last Christine did such a good job that she was offered apermanenft position. Today she attends career training classes and workzs part time as the volunteeroffice coordinator, helping to recruirt new volunteers and assisting with community projects. CTCA will employ eighf internsthis summer, doublw its commitment last year.
Businesses that can’t host an intermn can still be involved by fundinh an internship at a nonprofit organization. We believe an investmenr in our youth today is alsoa long-term investmentr in our region’s success. Research indicates that kids with work experienc are more likely to go onto college, stay in the work forcew and move up in our companies. As stakeholders in the futur e ofthis region, it is essential that we connect younh people with the professional opportunities that exist beyond their neighborhoods. This campaign demonstrates that the businese community is not sittinh on the sidelines at thiscritical time. Employers have committexd nearly 600internship positions.
The goal is matching last year. Internships are open to Philadelphiaz students who will enter 11th gradd or higher inthe fall. All studenta are pre-screened and interviewed by the prospective With just weeks to go until the start of the we ask you to step up for Philadelphia youthg and make a place for them this summer atyour company. Visit greaterphilachamber.com or call
Interns are a source of enthusiastic, temporary and inexpensive labor. They boosg summer productivity bycompletinhg short-term assignments that produce real resultz for employers. And more than Philadelphia young people, who have limited accessw to such opportunities, need the chance to work in a professionalk environment and earna paycheck. That is why, for the thirds consecutive year, the and Mayor Michael Nutterf are encouraging regionalemployers — from largse corporations to small businesses — to provide a paid summere internship for a Philadelphia young person.
The cost of a six-wee k summer internship is but the payoff can be These interns may becomd your employeesof tomorrow. That’s how (CTCA) hospitak in Juniata Park discovered a valuabler employee inChristine Vega. Several years ago when her aunt died of Christine vowed to work in health care aftetr she graduated from Olney HighSchool East. An intern at CTCA last Christine did such a good job that she was offered apermanenft position. Today she attends career training classes and workzs part time as the volunteeroffice coordinator, helping to recruirt new volunteers and assisting with community projects. CTCA will employ eighf internsthis summer, doublw its commitment last year.
Businesses that can’t host an intermn can still be involved by fundinh an internship at a nonprofit organization. We believe an investmenr in our youth today is alsoa long-term investmentr in our region’s success. Research indicates that kids with work experienc are more likely to go onto college, stay in the work forcew and move up in our companies. As stakeholders in the futur e ofthis region, it is essential that we connect younh people with the professional opportunities that exist beyond their neighborhoods. This campaign demonstrates that the businese community is not sittinh on the sidelines at thiscritical time. Employers have committexd nearly 600internship positions.
The goal is matching last year. Internships are open to Philadelphiaz students who will enter 11th gradd or higher inthe fall. All studenta are pre-screened and interviewed by the prospective With just weeks to go until the start of the we ask you to step up for Philadelphia youthg and make a place for them this summer atyour company. Visit greaterphilachamber.com or call
Friday, September 23, 2011
Jury awards Centocor $1.7B in patent case against Abbott - Los Angeles Business from bizjournals:
paramonaxogilozi.blogspot.com
An Abbott spokesman said the companywill appeal. Pa.-based Centocor, a division of makes the blockbuster rheumatoied arthritistreatment Remicade, and had sued Abbot over Abbott’s arthritis drug, Humira. Both are so-calle d anti-TNF arthritis treatments. Horsham, Pa.-based Centocor said it is the exclusive licensee of the whichis co-owned by . Centocof President Kim Taylor said “the jury recognized our valuableintellectual property, finding our patent both valir and infringed. We will continue to assergt intellectual property rights for our immunology as they offer significant advances in treatment for patientsa with a number of immune mediatedinflammatoruy diseases.
” Abbott spokesman Scott E. Stoffel said, “We are disappointerd in this verdict, and we are confident in the meritsw of our case and that we will prevailon “The evidence clearly established that Humira was the first of its kind, fully-human anti-TNF antibodyy medicine,” Stoffel said. “JNJ’s anti-TNF antibody medication, Remicade, is partiallyh made from mouse DNA. JNJ did not launch a fully-humahn product until April 2009. In fact, only when Humira was nearing its approval in 2002 did JNJ amend the patent at issue in this litigation to claimj that it haddiscovered fully-human antibodies in 1994.
JNJ acknowledge at trial that it did not start working ona fully-humah antibody until 1997 two years after Abbott discovered Humira and one year after Abbotr filed its patent applications for Humira.”
An Abbott spokesman said the companywill appeal. Pa.-based Centocor, a division of makes the blockbuster rheumatoied arthritistreatment Remicade, and had sued Abbot over Abbott’s arthritis drug, Humira. Both are so-calle d anti-TNF arthritis treatments. Horsham, Pa.-based Centocor said it is the exclusive licensee of the whichis co-owned by . Centocof President Kim Taylor said “the jury recognized our valuableintellectual property, finding our patent both valir and infringed. We will continue to assergt intellectual property rights for our immunology as they offer significant advances in treatment for patientsa with a number of immune mediatedinflammatoruy diseases.
” Abbott spokesman Scott E. Stoffel said, “We are disappointerd in this verdict, and we are confident in the meritsw of our case and that we will prevailon “The evidence clearly established that Humira was the first of its kind, fully-human anti-TNF antibodyy medicine,” Stoffel said. “JNJ’s anti-TNF antibody medication, Remicade, is partiallyh made from mouse DNA. JNJ did not launch a fully-humahn product until April 2009. In fact, only when Humira was nearing its approval in 2002 did JNJ amend the patent at issue in this litigation to claimj that it haddiscovered fully-human antibodies in 1994.
JNJ acknowledge at trial that it did not start working ona fully-humah antibody until 1997 two years after Abbott discovered Humira and one year after Abbotr filed its patent applications for Humira.”
Wednesday, September 21, 2011
County economic development director joins VJS - The Business Journal of Milwaukee:
cahijisebi.wordpress.com
Dennik will leave his government post at the end of September after working for County Executive Scotyt Walker thelast six-and-a-half years. In the last two Dennik has concentrated on finding developers to acquirse landin county-owned parcels along the Park East developmentg corridor in Milwaukee. “It’s amazing how time flies when you’rs getting kicked in the head every said Dennik, who has seen severa development projects on county-owned land stalled in recentf months because of the sagging economuy and tight financial markets.
Dennik was a top Walkee aide when Walker took over thecounty executive’sz office in 2002, following the Milwaukes County pension scandal associatedx with former County Executive Thomas Ament’s administration. “I hope the county can find a replacemeny (for Dennik), who has as good a head for economi development and business as Bob saidGeoffrey Hurtado, a seniofr vice president for , Wauwatosa. Irgens Development is the lead developer for the Milwaukee County Researc Parkin Wauwatosa. The firm worked closely with Dennim on bringing and other tenants to theresearch park. Walker has not namer a replacementfor Dennik.
VJS Construction is in the midstg of expanding itsconstruction business. Dennik’s knowledgse of southeast Wisconsin’s economic developmengt sector is a welcome addition to the said aVJS spokeswoman. Prior to joining the Walker Dennik was executive director ofthe , where he lobbiede federal, state and local legislatore on the association’s behalf for five Previously, Dennik was the Wisconsibn manager for the , whic h is based in Chicago. Dennij worked on a number of politicak campaigns as a membedr of the Midwest PublicAffairs Group.
Dennik will leave his government post at the end of September after working for County Executive Scotyt Walker thelast six-and-a-half years. In the last two Dennik has concentrated on finding developers to acquirse landin county-owned parcels along the Park East developmentg corridor in Milwaukee. “It’s amazing how time flies when you’rs getting kicked in the head every said Dennik, who has seen severa development projects on county-owned land stalled in recentf months because of the sagging economuy and tight financial markets.
Dennik was a top Walkee aide when Walker took over thecounty executive’sz office in 2002, following the Milwaukes County pension scandal associatedx with former County Executive Thomas Ament’s administration. “I hope the county can find a replacemeny (for Dennik), who has as good a head for economi development and business as Bob saidGeoffrey Hurtado, a seniofr vice president for , Wauwatosa. Irgens Development is the lead developer for the Milwaukee County Researc Parkin Wauwatosa. The firm worked closely with Dennim on bringing and other tenants to theresearch park. Walker has not namer a replacementfor Dennik.
VJS Construction is in the midstg of expanding itsconstruction business. Dennik’s knowledgse of southeast Wisconsin’s economic developmengt sector is a welcome addition to the said aVJS spokeswoman. Prior to joining the Walker Dennik was executive director ofthe , where he lobbiede federal, state and local legislatore on the association’s behalf for five Previously, Dennik was the Wisconsibn manager for the , whic h is based in Chicago. Dennij worked on a number of politicak campaigns as a membedr of the Midwest PublicAffairs Group.
Monday, September 19, 2011
Random Notes - BurlingtonFreePress.com
iqukikofor.wordpress.com
Random Notes BurlingtonFreePress.com 748-2600, www.catamountarts.org. Rock and Americana veteran Levon Helm returns to the state for a show at 6 pm Friday at the Suicide Six ski area in southern Vermont. He'll follow the Vermont-based band Bow Thayer and Perfect Trainwreck (who've ... |
Saturday, September 17, 2011
Extended Stay Hotels files Chapter 11 - Jacksonville Business Journal:
vishnevskiipavuh.blogspot.com
The Spartanburg, S.C.-based company has 14 hotelsd in Florida, seven of them in according to itsWeb site. It filed its Chapter 11 petition Monday in the Southern District ofNew York. Accordingv to the filing, Extended Stay had about $7.1 billiojn in assets and $7.6 billionb in liabilities at the endof 2008. Lakewood, N.J.-based boughrt Extended Stay from in 2007for $8 billion. The deal was highlyt leveraged, making Extended Stay especiall y vulnerable to amarket downturn, according to The Wall Stree Journal . Creditors that hold debt from the buyout include and its MerrillLynch & Co. as well as , which is owned by San-Francisco-based WFC), the newspaper reported.
Extended Stay bill s itself as the largest operatorof mid-priceed extended-stay hotels in the nation. “Since the typical Extendedd Stay customer seeks a lengthy stay based oncommercial relocation, the contractiom of construction and new business developmenf began to significantly and adversely affect Extended Stay’s revenue stream,” the filing states. The companyu said its average revenue per room droppedx about 23 percent in the first five monthxs of the year compared with the same perioxof 2008. As a it was unable to deal with its debt burden with cash flow and is seekinga “comprehensive restructuring of the entirs capital structure.
” Extended Stay said it plansx to continue operating under a lender-approvee arrangement using cash collateral. Debtor-in-possessiohn financing won’t be needed, the company says.
The Spartanburg, S.C.-based company has 14 hotelsd in Florida, seven of them in according to itsWeb site. It filed its Chapter 11 petition Monday in the Southern District ofNew York. Accordingv to the filing, Extended Stay had about $7.1 billiojn in assets and $7.6 billionb in liabilities at the endof 2008. Lakewood, N.J.-based boughrt Extended Stay from in 2007for $8 billion. The deal was highlyt leveraged, making Extended Stay especiall y vulnerable to amarket downturn, according to The Wall Stree Journal . Creditors that hold debt from the buyout include and its MerrillLynch & Co. as well as , which is owned by San-Francisco-based WFC), the newspaper reported.
Extended Stay bill s itself as the largest operatorof mid-priceed extended-stay hotels in the nation. “Since the typical Extendedd Stay customer seeks a lengthy stay based oncommercial relocation, the contractiom of construction and new business developmenf began to significantly and adversely affect Extended Stay’s revenue stream,” the filing states. The companyu said its average revenue per room droppedx about 23 percent in the first five monthxs of the year compared with the same perioxof 2008. As a it was unable to deal with its debt burden with cash flow and is seekinga “comprehensive restructuring of the entirs capital structure.
” Extended Stay said it plansx to continue operating under a lender-approvee arrangement using cash collateral. Debtor-in-possessiohn financing won’t be needed, the company says.
Wednesday, September 14, 2011
Mid-state rival Lipscomb host Lady Govs soccer in mid-week tilt - Clarksville Online
vasilisaxavymar.blogspot.com
Mid-state rival Lipscomb host Lady Govs soccer in mid-week tilt Clarksville Online Clarksville, TN â€" The season's final non-conference matches are due up for Austin Peay State University women's soccer team, beginning with a 4:30pm, Thursday match against Lipscomb at Cofer's Chapel practice field. The Lady Govs (5-2) recently ... |
Monday, September 12, 2011
China: Fear for the safety of three monks of the Tawu Nyasto Monastery in ... - OMCT World Organisation Against Torture
oryucyjofec1482.blogspot.com
China: Fear for the safety of three monks of the Tawu Nyasto Monastery in ... OMCT World Organisation Against Torture ... Dongchengqu, Beijingshi 100741, People's Republic of China, Fax: +86 10 63099216 · Permanent Mission of the People's Republic of China, Ch. De Surville, CP 85, 1213 Petit-Lancy 2, Suisse, e-mail: mission.china@ties.itu.int, Fax : +41 22 793 70 14 ... |
Saturday, September 10, 2011
Weather or not, we need a solution - Minneapolis / St. Paul Business Journal:
yzirapogyg.wordpress.com
Insurance agents’ concern centere around state regulators’ push to keep rates so low that many wonder which insurers will be left standinhg and whether the industrt canremain healthy. Meanwhile, state officialsw contend all is well with the way the insurance industr y operatesin Florida. At the National Association ofInsurancew Commissioners’ May 22 meeting in D.C., Floridas Insurance Commissioner Kevin McCartu called the state’s system of regulating insurers Really?
Then why are we still concerned about a post-hurricane scenario that might very well bankrup t the state because the Catastrophe Fund and insurerd can’t handle the billions of dollars attached to cleaning up aftefr a large storm? State Farm cited the ratess issue in its decision to stop providing property insurance coverages in Florida. Many argued that insurancew companies have been cash cows for years up until the 2004 hurricanes plowed acrossthe state. But we now face a precariouw future that seems more dependent on prayiny thewind doesn’t blow, rather than knowing we have enoughg in reserves to handle s catastrophe.
Adding even more spice to the hurricaneseason scenario: Hundreds of thousands of homes that have been emptyy for months in the aftermath of the subprime meltdownb and subsequent foreclosure crisis that has Florida among the hardest-hi t states in the nation. “Florida is living with a huge said McCabeResearch & Consulting’s Jack McCabe, a real estat e expert who, along with others, notesd nobody has ever gone throughh a storm with so much emptyg property hanging in the “There are 400,000 foreclosures in the states right now.
All you have to do is look at New Orlean s after Katrina to imagine what might Quite frankly, it’s not a scenario anyone is prepared to face especially the governor, who just this week, issuedc a release with this astounding proclamation: “Be ready” for the hurricanee season. OK, but you In the past couple of years, the governo r and state lawmakers have frozen rates forthe state-run Citizens Propertty Insurance Corp.
and rejectedx rate increases from insurers such as State Farm and Now those efforts to keep rates low may causse the biggest crisis this stats has ever known ifwe have, created what the Florida Association of Insurancee Agents’ Jeff Grady last week calledd “a fragile, unstable insurance market that leaves Florida homeowneras and taxpayers in grave financial Saying “good riddance” to insurers like Statew Farm that pull out of the statw is not how this problem can be solved. The Legislature did take some steps this year to raiss rates for Citizens and the Cat Fund to makethem actuariallyy sound.
With both underfunded by billions of a bill the governor has threatenerd to veto might bring us to a pointrof stability: letting large insurerxs set rates without state approval. Even thouggh coverage may be more the choice is left to individuals who can do theier own analysis and decide what kind ofrisk they’rew prepared to take. Put the veto pen governor. Let us decide what we’r willing to live with.
Insurance agents’ concern centere around state regulators’ push to keep rates so low that many wonder which insurers will be left standinhg and whether the industrt canremain healthy. Meanwhile, state officialsw contend all is well with the way the insurance industr y operatesin Florida. At the National Association ofInsurancew Commissioners’ May 22 meeting in D.C., Floridas Insurance Commissioner Kevin McCartu called the state’s system of regulating insurers Really?
Then why are we still concerned about a post-hurricane scenario that might very well bankrup t the state because the Catastrophe Fund and insurerd can’t handle the billions of dollars attached to cleaning up aftefr a large storm? State Farm cited the ratess issue in its decision to stop providing property insurance coverages in Florida. Many argued that insurancew companies have been cash cows for years up until the 2004 hurricanes plowed acrossthe state. But we now face a precariouw future that seems more dependent on prayiny thewind doesn’t blow, rather than knowing we have enoughg in reserves to handle s catastrophe.
Adding even more spice to the hurricaneseason scenario: Hundreds of thousands of homes that have been emptyy for months in the aftermath of the subprime meltdownb and subsequent foreclosure crisis that has Florida among the hardest-hi t states in the nation. “Florida is living with a huge said McCabeResearch & Consulting’s Jack McCabe, a real estat e expert who, along with others, notesd nobody has ever gone throughh a storm with so much emptyg property hanging in the “There are 400,000 foreclosures in the states right now.
All you have to do is look at New Orlean s after Katrina to imagine what might Quite frankly, it’s not a scenario anyone is prepared to face especially the governor, who just this week, issuedc a release with this astounding proclamation: “Be ready” for the hurricanee season. OK, but you In the past couple of years, the governo r and state lawmakers have frozen rates forthe state-run Citizens Propertty Insurance Corp.
and rejectedx rate increases from insurers such as State Farm and Now those efforts to keep rates low may causse the biggest crisis this stats has ever known ifwe have, created what the Florida Association of Insurancee Agents’ Jeff Grady last week calledd “a fragile, unstable insurance market that leaves Florida homeowneras and taxpayers in grave financial Saying “good riddance” to insurers like Statew Farm that pull out of the statw is not how this problem can be solved. The Legislature did take some steps this year to raiss rates for Citizens and the Cat Fund to makethem actuariallyy sound.
With both underfunded by billions of a bill the governor has threatenerd to veto might bring us to a pointrof stability: letting large insurerxs set rates without state approval. Even thouggh coverage may be more the choice is left to individuals who can do theier own analysis and decide what kind ofrisk they’rew prepared to take. Put the veto pen governor. Let us decide what we’r willing to live with.
Thursday, September 8, 2011
Iron City moving production to Latrobe - Triangle Business Journal:
mozybyd.wordpress.com
“This brewery is old and has a lot ofinfrastructurw problems,” said Hickman, detailing the facility’ws outdated electrical systems and infrastructure problems, as well as the balkyy canning line that led the companh to move production of its canned beerws to High Falls Brewing in N.Y. in March. “That’s not sustainable in today’s environment.” Three years ago, after the company, then known as , filer for Chapter 11 bankruptcy protection, it pledgeed to the bankruptcy court toinvesty $4.5 million to upgrade the Lawrenceviller facility.
Iron City Brewing took over ownershio ofthe 148-year-old brewery in June buying the company and its assets out of bankruptcy Hickman said various experts consulting about the brewery's futurw viability estimated it would cost $12 million to $15 millionj to retrofit the entire Iron City instead reached an agreement with LaCrosse, Wis.-based City Brewing Co., owner of the Latrobde plant, to lease a portioj of the facility and make Iron City and its otherd beers at Latrobe starting in July. Hickman characterize d Iron City as an anchor product for theLatrobwe plant, which has been shuttered for months.
At least 171,0090 barrels of beer will be made annually at the moremodernized brewery, which has a capacity of more than 1 million barrels each year. George Parke, CEO of City described Iron City as a great Americah Beer and said he was honorefd to have the beer made at Whilehe didn’t divulge details, he added that he expectsw to add other contract-brewing accounts at the facility that will help the plantg to reach 40 percent capacity, a level at which he said the facilith could be profitable. Eric Shepherd, an editor with Beer Marketerzs Insights, an industry trade publication, said that attracting contracg brewing accounts isvery competitive.
Ken owner of Vecenie Distributing Companyin Millvale, which is a mastert distributor of Iron City beer on the city’a North Side and in the northernm suburbs, waited to know more but was hopefulk the move will allow the brand to survive. State senatorf Jim Ferlo, whose Lawrenceville office is a few blocksw from the Iron City described the decision to move production out of the plan t asvery disappointing, given the significant publid investments that have been made in the breweryt over the years. “You woulrd think that it would be a moral imperative for them to retooland recapitalize” in the Pittsburgh facility, he said.
“I thinkk they will lose a lot of theierbrand loyalty.” Cris Hoel, a local lawyer who has long workec in the local brewing business and represents Iron City distributors, said his clientz pleaded with the brewery not to move the productionb to Latrobe out of fear for the Hickman emphasized that Iron City Brewing will maintain its administration, sales staff and warehousing out of the Lawrenceville plant and notexd that Iron City beer will remainn a regional brand made in Western Pennsylvania, if not in the city, tradinf in its city production roots for a more efficient He said the company is explorinb possibilities to redevelop the historicall registered Iron City brewery, a massivse plant that sits at a hilly elbow of land on Liberty He also said the company will honor all commitmentsz as it makes the transition.
Accordinhg to Hickman, that includes a county which the breweryowes $120,0009 of a total $150,000. A state grantf formally proposed nevercame through, he added. Iron City also received a $24,00p0 grant from the city, according to
“This brewery is old and has a lot ofinfrastructurw problems,” said Hickman, detailing the facility’ws outdated electrical systems and infrastructure problems, as well as the balkyy canning line that led the companh to move production of its canned beerws to High Falls Brewing in N.Y. in March. “That’s not sustainable in today’s environment.” Three years ago, after the company, then known as , filer for Chapter 11 bankruptcy protection, it pledgeed to the bankruptcy court toinvesty $4.5 million to upgrade the Lawrenceviller facility.
Iron City Brewing took over ownershio ofthe 148-year-old brewery in June buying the company and its assets out of bankruptcy Hickman said various experts consulting about the brewery's futurw viability estimated it would cost $12 million to $15 millionj to retrofit the entire Iron City instead reached an agreement with LaCrosse, Wis.-based City Brewing Co., owner of the Latrobde plant, to lease a portioj of the facility and make Iron City and its otherd beers at Latrobe starting in July. Hickman characterize d Iron City as an anchor product for theLatrobwe plant, which has been shuttered for months.
At least 171,0090 barrels of beer will be made annually at the moremodernized brewery, which has a capacity of more than 1 million barrels each year. George Parke, CEO of City described Iron City as a great Americah Beer and said he was honorefd to have the beer made at Whilehe didn’t divulge details, he added that he expectsw to add other contract-brewing accounts at the facility that will help the plantg to reach 40 percent capacity, a level at which he said the facilith could be profitable. Eric Shepherd, an editor with Beer Marketerzs Insights, an industry trade publication, said that attracting contracg brewing accounts isvery competitive.
Ken owner of Vecenie Distributing Companyin Millvale, which is a mastert distributor of Iron City beer on the city’a North Side and in the northernm suburbs, waited to know more but was hopefulk the move will allow the brand to survive. State senatorf Jim Ferlo, whose Lawrenceville office is a few blocksw from the Iron City described the decision to move production out of the plan t asvery disappointing, given the significant publid investments that have been made in the breweryt over the years. “You woulrd think that it would be a moral imperative for them to retooland recapitalize” in the Pittsburgh facility, he said.
“I thinkk they will lose a lot of theierbrand loyalty.” Cris Hoel, a local lawyer who has long workec in the local brewing business and represents Iron City distributors, said his clientz pleaded with the brewery not to move the productionb to Latrobe out of fear for the Hickman emphasized that Iron City Brewing will maintain its administration, sales staff and warehousing out of the Lawrenceville plant and notexd that Iron City beer will remainn a regional brand made in Western Pennsylvania, if not in the city, tradinf in its city production roots for a more efficient He said the company is explorinb possibilities to redevelop the historicall registered Iron City brewery, a massivse plant that sits at a hilly elbow of land on Liberty He also said the company will honor all commitmentsz as it makes the transition.
Accordinhg to Hickman, that includes a county which the breweryowes $120,0009 of a total $150,000. A state grantf formally proposed nevercame through, he added. Iron City also received a $24,00p0 grant from the city, according to
Tuesday, September 6, 2011
DBJ Confidential - Dallas Business Journal:
jabire2389.blogspot.com
The North Texas Commercial Associatiohn of Realtors has come out with a terrific new coffe etable book. Called “The Book,” it offers fascinatinbg profiles of inductees intothe group’d Hall of Fame, including icons ranging from and Henry S. Millerd to Craig Hall and Roger Staubach. The book was the brainchils of three longtime Dallas brokers andNTCA members, Robert Grunnah and Darrell Hurmis with , and Chrisx Teesdale with . “One of our biggest concern was that the incredibly colorful stories of thepast 100-pluw years might be forgotten as we move into the 21st Grunnah said. NTCAR will host a party to unveio the book from 4 to6 p.m. on Nov.
11 at Al Biernet’s Restaurant on Oak ■ Former Washington Redskins coach Joe Gibbs was among thosr in the suite aton Nov. 1. The owned of , Gibbs posed for photow with fans and signed tickets andhats — and a footbalk that one fan brought along, just in case Gibbw showed up. Gibbs Racing driver Joey Logano, in the No. 20 GameStop-sponsoreed Toyota, placed fourth in the NationwideSeries Race. ... Dallas artistr Chris Arnold, known for his massivew paintings on exterior walls at Renaissancw Tower and Mockingbird has collaborated with area children from Big Brothersx Big Sisters to create asmaller piece.
The privately commissionedd artwork will be on display atthe AT&g Big Black Tie Ball, a fundraiser for BBBS, Nov. 8 at the . or “littles,” as they’re callex within the organization, will also provides musical entertainment at the For detailssee www.bbbstx.org. ■ Abou 650 of Dallas attorney Michaelo Shore’s closest friends crowdedc into Nov. 1 to help him celebratse his birthday.
The rocked the house, as did The Dubbed a “convention,” the partyg was the culmination of an ongoing extravaganza that involvedxeight “political parties,” whose chairs each got $2,000 to host advanced events that selected candidate s — who then campaigned to win a Smarg Car. That prize, autographed by The Blacmk Crowes, went to “ candidate Craig Spivey. Calling the race a tie, Shors also is donating $15,000 to Notr Dame School of Dallaz on behalf ofthe “Freak Party.” He said the campaig n idea worked out even bettere than he hoped: “It got people togethef and really built up enthusiasm.” ...
After cracking everyone up last year with his costumesd versionof “Hairspray” character Edna CEO Gary Kelly took a more masculine approach this year, dressin up as Billy Gibbons of the legendarg Texas band, ZZ Top. Kelly was spotted cruising the hallzs ofthe airline’s headquarters, guitard in hand, and posing with his compatriots, Executive Assistant Gilliah Kelley and Chief of Staff Nan Barry.
Staff writerf Katherine Cromer Brock contributed tothis
The North Texas Commercial Associatiohn of Realtors has come out with a terrific new coffe etable book. Called “The Book,” it offers fascinatinbg profiles of inductees intothe group’d Hall of Fame, including icons ranging from and Henry S. Millerd to Craig Hall and Roger Staubach. The book was the brainchils of three longtime Dallas brokers andNTCA members, Robert Grunnah and Darrell Hurmis with , and Chrisx Teesdale with . “One of our biggest concern was that the incredibly colorful stories of thepast 100-pluw years might be forgotten as we move into the 21st Grunnah said. NTCAR will host a party to unveio the book from 4 to6 p.m. on Nov.
11 at Al Biernet’s Restaurant on Oak ■ Former Washington Redskins coach Joe Gibbs was among thosr in the suite aton Nov. 1. The owned of , Gibbs posed for photow with fans and signed tickets andhats — and a footbalk that one fan brought along, just in case Gibbw showed up. Gibbs Racing driver Joey Logano, in the No. 20 GameStop-sponsoreed Toyota, placed fourth in the NationwideSeries Race. ... Dallas artistr Chris Arnold, known for his massivew paintings on exterior walls at Renaissancw Tower and Mockingbird has collaborated with area children from Big Brothersx Big Sisters to create asmaller piece.
The privately commissionedd artwork will be on display atthe AT&g Big Black Tie Ball, a fundraiser for BBBS, Nov. 8 at the . or “littles,” as they’re callex within the organization, will also provides musical entertainment at the For detailssee www.bbbstx.org. ■ Abou 650 of Dallas attorney Michaelo Shore’s closest friends crowdedc into Nov. 1 to help him celebratse his birthday.
The rocked the house, as did The Dubbed a “convention,” the partyg was the culmination of an ongoing extravaganza that involvedxeight “political parties,” whose chairs each got $2,000 to host advanced events that selected candidate s — who then campaigned to win a Smarg Car. That prize, autographed by The Blacmk Crowes, went to “ candidate Craig Spivey. Calling the race a tie, Shors also is donating $15,000 to Notr Dame School of Dallaz on behalf ofthe “Freak Party.” He said the campaig n idea worked out even bettere than he hoped: “It got people togethef and really built up enthusiasm.” ...
After cracking everyone up last year with his costumesd versionof “Hairspray” character Edna CEO Gary Kelly took a more masculine approach this year, dressin up as Billy Gibbons of the legendarg Texas band, ZZ Top. Kelly was spotted cruising the hallzs ofthe airline’s headquarters, guitard in hand, and posing with his compatriots, Executive Assistant Gilliah Kelley and Chief of Staff Nan Barry.
Staff writerf Katherine Cromer Brock contributed tothis
Saturday, September 3, 2011
FDIC creates advisory panel on community banking issues - Washington Business Journal: Washington Bureau
inupujyfab1211.blogspot.com
FDIC Chairman Sheila Bair saidthe nation's 7,000-plusz community banks "are the lifeblood of our nation'sx financial system, supplying much-needed credit to countlessz individuals, small businesses, nonprofit organizations and othee entities in large and small towns around the country." The Independengt Community Bankers of America praised the FDIC for forminf the advisory committee. "ICBA looks forward to working with the committeew in their efforts to identify and prioritizd issues of concern forcommunity banks," said associatiobn Chairman R. Michael Menzies, who is president and CEO of Eastobn Bank andTrust Co. in Easton, Md.
One current issue of concern for community bankerd is a proposal to creat a single regulator for federally charterefbanking institutions. That would "ultimately community banks, said ICBA President and CEO Camdemn Fine. For more information, see
FDIC Chairman Sheila Bair saidthe nation's 7,000-plusz community banks "are the lifeblood of our nation'sx financial system, supplying much-needed credit to countlessz individuals, small businesses, nonprofit organizations and othee entities in large and small towns around the country." The Independengt Community Bankers of America praised the FDIC for forminf the advisory committee. "ICBA looks forward to working with the committeew in their efforts to identify and prioritizd issues of concern forcommunity banks," said associatiobn Chairman R. Michael Menzies, who is president and CEO of Eastobn Bank andTrust Co. in Easton, Md.
One current issue of concern for community bankerd is a proposal to creat a single regulator for federally charterefbanking institutions. That would "ultimately community banks, said ICBA President and CEO Camdemn Fine. For more information, see
Thursday, September 1, 2011
Hawaiian Telcom opposes buyout offer - Washington Business Journal:
kittredgeihuhyla1951.blogspot.com
Sandwich Isles filed a motion earlie r this month to submit a competinbg Chapter 11 reorganization plan for Hawaiian In it, the Honolulu-based company offerexd to buy Hawaiian Telcom’ s assets using $250 million in cash and $150 milliob in debt that would be issued by Hawaiian Until June 30, Hawaiian Telcom has so-callecd “exclusivity” in filing a reorganization plan. The company wants to extenx that exclusivityto Sept. 30 as it gets votes on a proposedd plan it filedJune 3.
Sandwich Isles has files an objection tothat extension, and Hawaiian Telcom’s lates filing defends the “Asking the court for help in promoting a low-balp offer for Hawaiian Telcom’s businesses is not a recipe for succese in bankruptcy proceedings,” Hawaiian Telcom said in the filing. Sandwich a company founded in 1995 to take advantage of government subsidiezs that pay for the installationm of broadband cable in rural had said in its motion that Hawaiiabn Telcom refused to considerits offer. But, Hawaiian Telcom says it analyzecd and rejected the offerin May, for eightf reasons listed in the filing.
It citef Sandwich Isles’ lack of committed financing, lack of federakl and state licenses to operate inurban areas, and lack of experience and ability to operate a full-servicw communications company. Hawaiian Telcom said it stands behinc its proposed reorganization plan to reducethe company’s debt by nearlg $790 million, from $1.1 billion to $300 million. Sandwicn Isles’ motion also claims Hawaiian Telcom has notmade good-faitn progress in its bankruptcy case since filing for Chapter 11 protectiomn in December.
In defending that claim, Hawaiiah Telcom’s chief operating officer Kevin Nystrom said the compangy hascontacted “dozens of strategiv and financial purchasers.” The company said it pursuedc a potential buyer, whom it did not but that after two monthsw of talks no offer was made. Nystrom said Hawaiiajn Telcom also askedits “equity -- its majority owner, of Washington, D.C. -- abou a standalone reorganization and also discussed standalones restructuring options with its bondholders andsecured
Sandwich Isles filed a motion earlie r this month to submit a competinbg Chapter 11 reorganization plan for Hawaiian In it, the Honolulu-based company offerexd to buy Hawaiian Telcom’ s assets using $250 million in cash and $150 milliob in debt that would be issued by Hawaiian Until June 30, Hawaiian Telcom has so-callecd “exclusivity” in filing a reorganization plan. The company wants to extenx that exclusivityto Sept. 30 as it gets votes on a proposedd plan it filedJune 3.
Sandwich Isles has files an objection tothat extension, and Hawaiian Telcom’s lates filing defends the “Asking the court for help in promoting a low-balp offer for Hawaiian Telcom’s businesses is not a recipe for succese in bankruptcy proceedings,” Hawaiian Telcom said in the filing. Sandwich a company founded in 1995 to take advantage of government subsidiezs that pay for the installationm of broadband cable in rural had said in its motion that Hawaiiabn Telcom refused to considerits offer. But, Hawaiian Telcom says it analyzecd and rejected the offerin May, for eightf reasons listed in the filing.
It citef Sandwich Isles’ lack of committed financing, lack of federakl and state licenses to operate inurban areas, and lack of experience and ability to operate a full-servicw communications company. Hawaiian Telcom said it stands behinc its proposed reorganization plan to reducethe company’s debt by nearlg $790 million, from $1.1 billion to $300 million. Sandwicn Isles’ motion also claims Hawaiian Telcom has notmade good-faitn progress in its bankruptcy case since filing for Chapter 11 protectiomn in December.
In defending that claim, Hawaiiah Telcom’s chief operating officer Kevin Nystrom said the compangy hascontacted “dozens of strategiv and financial purchasers.” The company said it pursuedc a potential buyer, whom it did not but that after two monthsw of talks no offer was made. Nystrom said Hawaiiajn Telcom also askedits “equity -- its majority owner, of Washington, D.C. -- abou a standalone reorganization and also discussed standalones restructuring options with its bondholders andsecured
Subscribe to:
Posts (Atom)