Sunday, May 29, 2011
Sacramento-area home prices level out - Nashville Business Journal:
The report shows prices rose or remained levelp compared to April sales prices in all four countiese in the metropolitan area betweenh Apriland May. In Sacramentpo County, there was virtually no change in the numbetr ofhomes sold, going from 2,184 salesa to 2,159. But the median salexs price rosefrom $165,000 in April to $175,00o0 in May. The numbers include all typeesof homes, from existing single-family condos and new homes. The price in Sacramento County bottomed out in March atabout $160,000. MDA DataQuiclk uses information on sales recorded incountuy offices.
In Placer County, the median price remained at aboutt $295,500 for the 525 homes sold in the There were price gains in Yolo goingfrom $242,000 to $276,000 and in El Doradlo County, going from $313,000 to $325,000. The median prices in these counties remain between 12 and 22 percent lowerd than ayear ago.
Friday, May 27, 2011
NJ Transit Offers Memorial Day and Summer Specials - Patch.com
NJ Transit Offers Memorial Day and Summer Specials Patch.com On Friday, extra outbound trains will operate on the Northeast Corridor, North Jersey Coast, Raritan V » |
Wednesday, May 25, 2011
Santikos Theatres invests in new film-delivery technology by Kodak - San Antonio Business Journal:
Later this month, Kodak Digital Cinemaq will installthe company's Kodak Theatre Management System on all the screensd at Santikos' newly construction Silverado 19 in Houston and on nine screen of the company's year-old Palladium 19 in San The Kodak Theatre Management System is connectedx to a company's ticketing system and loads and directd all motion pictures, trailers and othed pre-show content to the proper screen. The systemk also has the ability to show 2D and 3D It is acentralized movie-management "Kodak brought the right package to us," says Richard Cieplechowicz, director of business development for Santikos.
"Our people had seen their systems in a working environmenyt and knew theywere reliable, but the deptgh of their technology appealed to us He adds, "Our company is growing. We'rer always refreshing our operations in San Antonio and now we also are bringingb the Santikos brandto movie-goers elsewhere. The Kodak systemj is designed to growwith us." Santikoz Theatres is the largest locally owned and operatedd movie theater company in San The company also is in the process of expandingt into other major cities in Texas. Kodak Digitak Cinema has installed the systemon 2,000 screens with 40 exhibition chain worldwide.
Sunday, May 22, 2011
Pansy Ho Seeks as Much as $1.5 Billion in MGM Sale - Bloomberg
Pansy Ho Seeks as Much as $1.5 Billion in MGM Sale Bloomberg Pansy Ho, a daughter of billionaire Stanley Ho, seeks to raise as much as HK$11.7 billion ($1.5 billion) from an initial public offering of Macau casino operator MGM China Holdings Ltd. The company will ... |
Friday, May 20, 2011
Feds say Kauai man stole $16M in Ponzi scheme - Pacific Business News (Honolulu):
David E. Ruskjer of Koloaz was charged by a federal grans jury Wednesday for fraudulently raising the money from approximately140 investors. Among the charges agains t Ruskjer aremail fraud, wire fraud, currency structuringb and money laundering. The U.S. Attorney’zs office alleges Ruskjer ran an investment and loan prograj out of Koloa calledRuskjer & Associates and Dave’as Investment/Loan Program, promising investors returns of 3 perceng to 5 percent per month. The allege activities occurred between September 2004 andDecembe 2008. Ruskjer allegedly used half ofthe $16 milliohn for trading through TD Ameritrade but lost more than $2.
5 The government said “there was never sufficientt money to support the 3 to 5 percenty interest rates he guaranteed his clients.” In classic Ponzi scheme Ruskjer allegedly used money from new clientsz to pay earlier clients to convince them he was making money for When the government seized Ruskjer’s trading account and bank account s last Dec. 11, he had a combined balance of $4.1 Ruskjer is accused of using much of the mone onpersonal expenses, includinb $528,458 on a condominium on $29,000 on a Honda sedan and $10,00 on motorcycles.
If convicted, he faces up to 20 yearsd in prison for each of the 17 mail and wirefraudx charges, and up to 10 yearsw in prison for each of the 30 other charges. The case resulteds from an Internal RevenueService investigation.
Wednesday, May 18, 2011
Fire Retardants In Baby Products May Pose Health Risks - Chemical & Engineering News
USA Today | Fire Retardants In Baby Products May Pose Health Risks Chemical & Engineering News In a written statement, the consumer agency commented that TDCPP "may pose a significant health risk to consumers." The researchers also detected milligram per gram of foam levels of eight other flame retardant chemicals, including the compounds ... Over 100 Baby Products Loaded With Toxins Many Common Infant and Children's Products Contain Potenti » |
Monday, May 16, 2011
Alabama man, Florida boy located in Kentucky - MiamiHerald.com
Daily Mail | Alabama man, Florida boy located in Kentucky MiamiHerald.com Kentucky police said the child was located in the vehicle and was not injured. He was taken into protective custody. In Florida, the Washington County Sheriff's Office said Snipes took the baby and drove away in a truck. Abducted toddler located in Kentucky |
Friday, May 13, 2011
P.F. Chang
P.F. Chang’s would fill a City Centet space at the corner of Hennepin Avenude and North Sixth Streetthat Friday’s vacated in 2005. P.F. Chang’s spokeswoman Rachek Gillman confirmed that the compang is looking into adding a restaurant indowntow Minneapolis. “Nothing has been wrapped up in terms of a lease for theMinneapolis location. I would probably have more to updatde for you intwo months.” Officials from , the New York-basex real estate investment trust that owns and managez City Center, could not be reachedc for comment. Landing P.F.
Chang’s would be a major victor for the downtown Minneapolisshopping center, adding a second high-profile restaurant tenant to pair with Fogo de a Brazilian steakhouse that has generatedx strong sales since opening in 2007. “Wow, that would be greaf for downtown Minneapolis,” said Lindaq Zelm, vice president of retail servicees for Coldwell Banker CommercialGriffin Cos. in “I bet that woulds be very popular.” City Centee was home to anotherChineser restaurant, Nankin Cafe, from 1981 until 1999, when the restaurant closedf after 80 years in downtown Minneapolis.
“I can’t tell you how many timee I wentthere — so many times,” Zelm Scottsdale, Ariz.-based P.F. Chang’s Chin Bistro operates 190 P.F. Chang’s restaurantsz nationwide, including in Edina and The Shoppes at Arbor Lakesx inMaple Grove. The average restaurant is between 6,000 and 7,50o0 square feet. The menu feature traditional Chinese fare, such as sweet-and-sour chicken and Mongolian as well as Asian twists on American staples like steaiand salmon. The average check is about $20 per P.F. Chang’s also has 160 Pei Wei Asian Diner fast-casual restaurants across the country, including location s in Eden Prairie, St. Louis Park and Woodbury. P.F.
Chang’s plans to open just 14 new restaurantws — eight P.F. Chang’s restaurants and six Pei Weis infiscal 2009, after opening a total of 42 locationzs in 2008 and 52 in 2007. Given the reduced expansio plans, it’s surprising the company would choose to open a restaurantg atCity Center, said Allan Hickok, managing directof at Minneapolis-based consulting firm Restaurant & Retailo Strategies. “It’s just a little curious that they’ve determined that’s one of the eight or 10 best locationd inthe country.
” The restaurant probably would draw a strong business crowd over lunch, but mighy struggle to attract guests over dinner, Hickook said. “I think they have a high opportunity to getthat ‘Bloc E disease,’ ” he said, referrinb to the slow sales and safet y concerns that have plagued some tenanta across Hennepin Avenue at the Block E entertainment complex.
Wednesday, May 11, 2011
The ABCs of SBA Lending - South Florida Business Journal:
Recent changes in the (SBA) 7(a) loan program means many businessez might now have more opportunities to obtain The new program enhancements could help busines owners continue to manage and grow their companiesd and get their financial dreams backon track. SBA is a federalk program dedicated to helping small businesses with loands made available through locallending institutions. Recently, the SBA announcesd it is: These changes provide an economic incentive for small businesses to obtainha loan, and they allosw SBA lenders to offer an immediate cost savings to For example, a customer approved for a $238,000o 7(a) loan could save up to $5,400 in The new provisions add to the alreadyt substantial benefits small businesses often can realize when they choosew an SBA 7(a) loan to buy real estate, acquiree a new business or franchise, purchasre equipment or increase working capital.
Those benefitz include: As with any the interest rate and monthly payment for an SBA loan will depending onthe transaction. Also, the amount of cash you’lpl need at closing will vary, depending on the type of loan you Expenses such as closing fees and appraisalss often can be included in the SBA financingpackagwe – a feature that appeals to many business owners. Many SBA loanes are made to acquire owner-occupied commerciall real estate. Down-payments for these loans can be as low as 10percenyt – much lower than for othe types of financing, so less cash is require for closing.
These loans providde other benefits overconventional loans, including: • Terms of up to 25 yeares for real estate, with no balloom payments Often a business will grow through the purchase of anothetr company, additional inventory and new equipment. All of thesed can be financed with anSBA loan. If you choosew the right financial services company tohelp you, getting an SBA loan can be the easiest part of growing your business. First determine if the financial services company is aPreferresd Lender.
That’s a designation from the SBA that empowerd the company to handle all aspectzs of theloan process, from makinvg its own credit decisions to funding the Your file isn’t sent to a government office for instead, the SBA trusts the Preferred Lender to make the Becoming an SBA Preferrexd Lender is based in part on a financial servicesd company’s ability to illustrate a long historyu of good judgment and a solidx credit review process.
The Preferred Lender designation isthe SBA’s way of sayingh that a specific lender is more qualifiedd than others to make the right Since the Preferred Lender makee the decision on a loan application, your SBA loan is processex quickly and you get a decisio n within days. Once you decide an SBA loan might be righf foryour business, what should you bring to the application interview With an existing business, it’as important to bring your financial historhy – the past three years of busines s and personal tax returns, cash flow your current income statement and balance sheet and a personal financiap statement.
If you have a startup business, you shoulf bring your business plan, along with your personap financial history. Most financial services companiesz also require a detailedr breakdown of project costs and how the fundd willbe used. Real estate and construction loans usuallhy require more documentation than equipmeng and workingcapital loans. There are many SBA lendingf products, so you’ll want to work with a financiakl services adviser who is an SBA specialisf and is familiar with the cons and requirements of all SBAlending approaches.
The specialist can help you determinr the type and size of loan you need to meetyour company’sa unique circumstances while ensuring your company has sufficient cash flow to support the proposed debt. Given today’s incentives, this migh be the right time to investigate the possibilitty of anSBA loan. You coulfd find that an SBA loan is just the ticketr to put your business plans into actiob and get your dreams backon
Monday, May 9, 2011
Broad coalition has cuts of newspaper firm - Business First of Louisville:
Much has been written about the lead investorsin , whicbh filed for Chapter 11 bankruptcy protectiob on Feb. 22, citing a $300 million debt to lead investofCitizens Bank. Some investors have been widely publicized, including Citizens Bank parenft , real estate developer Brucwe Toll, investor William A. Grahakm IV, and CEO and Publishet Brian Tierney. Documents filed in U.S. Bankruptcy Court show for the firstf time the full range of investors involved inthe $515 million deal. Lenders include d a Connecticuthedge fund, mutuak fund companies and a statee retirement fund.
In bankruptcy papers, Executive Vice Presidentt Richard Thayer described the ownersof , the parentr of Philadelphia Newspapers, as “a diverse group of Philadelphiaa investors.” The effort was led by Citizens Bank, which lent $295 plus a $50 million revolving line of As of the end of January, two-and-a-half yearxs later, the company is stilp owed $296.6 million, according to court Further down the line, about 20 investors bought $85 million worth of 16 perceny senior subordinated notes, according to court papers. At the end of the amount owed on those notesewas $98.5 million.
Investmentss in the deal varied: Royal Bank of Scotlan acquired $22 million worth of the notes, whilew the Metropolitan Regional Council/Carpenters Union in Philadelphiainvested $2.3 On the list of creditors, Brucw Toll is listed twice, once under his own name as investinyg $3.475 million and again as , a Delaware holdiny company where he is listed as according to an SEC filing. The second investment was $11.58 n Airlie Opportunity MasterFund Ltd., a Greenwich, hedge fund whose other holdings included stakes in mortgagre lenders, invested $15.1 million. n The mutuap fund company Nuveen, which also invested $3.47 5 million for its floating rate incomeopportunity fund.
n Post Advisory Group LLC, a Los Angelesx company that created investor funds compiledwith high-yield invested a total of $16 million through five of its funds. n The Virginiaq Retirement System, which is based in Richmond, Va., and oversees $51.78 billion in state employees’ retirement funds, invested $2.9 n New York-based CIT Group Equipment Financing, which provides structured equipment financingto middle-marketg companies, chipped in $3.475 million. At this juncture, the holderes of the notes, which are unsecured, hope to recoved at least a portion oftheir investment.
A lawye for the group, Ben Logan of O’Meveny & Myersd LLP of Los Angeles, said the holders of the subordinater notes wentthrough “tougb negotiations” in October and came to a tentative settlement. But the deal was turneed down by theseniorf lender, Citizens Bank. “We hope this is a temporaryg problem,” Logan testified in bankruptcy courtthis “We’re dedicated to help with the reorganization.
”
Friday, May 6, 2011
State awards highway contracts - Phoenix Business Journal:
million contract to expanrd the Interstate 10 interchange at Maricopqa Road south of Phoenix has been awarded to PulicesConstruction Inc. by the . The contract includes rebuildinyg sectionsof I-10 near Maricopa building a new bridge over the interstate; replacin g the current cloverleaf ramps with a diamondr interchange; and widening I-10 for about a mile in each directiom from the existing two lanee to three. Construction is to start in June and end inearly 2004. $1.7 million to T&T Construction Inc. to relocate utilitiea on Ray Road and Greenfield Road to make room for the futurdSantan Freeway, or Loop 202. $831,744 to C.S. & W Contractorsw Inc.
of Phoenix to build auxiliary lanes on the westbounds lanes of the Agua Fria Freeway betweemn 51st and75th avenues. The additionalp lanes between freeway entrance and exit rampzs will offer more room for motoristds to merge as they entef or exitthe freeway. $253,411 to J. Banicki Construction Inc. of Tempe to make repairs to the drainage channe lalong I-10 between I-17 and 67th Avenue. $1.7 milliobn to Meadow Valley Contractors Inc. to pave two miles of Main Streetr and Butte Avenue through Florence withrubberizes asphalt. Crews also will resurface State Route 79 south of Florence for abourfive miles. For more information on the State Transportation Board, visit its Web site at .
Wednesday, May 4, 2011
Monday, May 2, 2011
Ascension Insurance buys three California agencies - Silicon Valley / San Jose Business Journal:
The Kansas City-based company bought of Santa which specializesin development, placement and administratiom support of student health insurance programs; of Walnut which provides employee benefits, retirement services and HR outsourcing primarilu for nonprofits; and Inc. of Agoura Hills, which specializes in administration of studen thealth insurance, including intercollegiate sports injury programs. the acquisitions will bring Ascension’s annual revenue to abouft $75 million, ranking it amonb the nation’s biggest 35 agencies, Ascensionh CEO Leonard Kline said inan interview. The companyg said it had $55 million in revenue in after its inFort Lauderdale, Fla.
Ascension now has more than 400 employee at 20 officelocations nationwide. “Thde acquisitions ... represent a valuable opportunithy for us to expand our West Coast operations and to fulfilp our goal of providingthe best-qualityy expertise, markets and resources to the middle Kline said. “Each organization brings uniquwe capabilities to our growing portfolio ofinsurance agencies, as well as dedicated employees who share our missiom to provide outstanding service to our customers in California and throughoutg the United States.
” Kline said the deal closed Thursday Ascension is a full-service insurancwe and employee benefits agency providingg brokerage and risk-management servicesx to middle-market companies nationwide. Ascension has been a activs in the mergers and acquisition markegt since it was founded from scratcjh inAugust 2007, making . The company is assistefd by funds from its private equity and . The goal is to increas e the company’s annual revenue to $200 million withinn the next five years.