xagawu.wordpress.com
But a far larger threa looms with the start of hurricane seasonext week. The nightmare scenario is a majof storm that sweeps across a region pockef with foreclosedreal estate, leaving the neglected property in empty of responsible homeowners. Nobody knowz how big the problemmight be, but with hundred of thousands of empty properties in the it could be huge. Banksx holding foreclosed real estate and defaulted loands said they have plans in place to move in with boardxs and tarps to coverd broken windows andshreddedx roofs. But real estate experts said nobodyh has ever gone through a storm with so much emptty property hanging inthe balance.
“Florida is living with a huge saidJack McCabe, president of in Deerfielf Beach. “There are 400,000 foreclosures in the statd right now. We have condominiums that are half-builtt and others that are 10 [percent] or 20 percentf occupied. All you have to do is look at New Orleans afted Hurricane Katrina to imagine what might After Katrina struck New Orleansin 2005, huge swaths of the city were destroyeed when levees broke and watee inundated the city. Large areas are still only thinly rebuilt.
Florida’s real estate market differs from New but its large number of empty dwellings and the rising tide of foreclosures poses a unique According tothe , 21,900 of Orange County’a 491,000 dwellings were empty for more than three monthsd in March. Statewide, 365,000 of 9.1 million homezs were vacant. Estimating the value of that propertyu isnearly impossible, since it’s a mixturde of foreclosed homes, never-sold dwellings and simply unoccupiexd real estate. This bad dream is filled with Larger banks typically have departmentes that manage foreclosed property and have contractsd withmaintenance companies.
Their main financiapl motive is keeping property in good repaitr so it can be resold for areasonablw return. But real estate prices have fallen so low in many markets that the cost of repairinv a heavily damaged house might be greater than itsresalse value. And if emergency repairs aren’t undertaken righty after a storm, the subsequent damage from rain and mold could add substantially to therehabilitatiohn cost. Although banks have plans for dealing with natural feware well-equipped to respond to a devastatintg storm. “The lenders have cut way back ontheit staffs,” McCabe said.
“Anybody who thinkes they have the ability to meet with insurance companieas and go out to houses to assesa damages isdeluding themselves.” The problem is compounded by the sheetr number of lenders. Some mortgage brokers and bankx that hold loans inFlorida don’t have offices here — or have dire financialk problems of their own. “Most banks don’t have people familiar with these sortsof problems,” said Peter Brennan, vice president of J. Rolfer Davis, an Orlando insurance agency. “Most bankerw don’t know what to do when a roof gets blowhn offa house.
” However, Fifth Thirdc Bank, Central Florida’s 12th-largest lender, has retaineds two property maintenance firms to inspect and repair its The bank has fewer than 300 foreclosed Florida properties on its books. “Once an asset becomes ours and is we do anything we can to preserverthe property. If we suspect from a leaky pipe to aleaky roof, we fix it,” said Micheles McCoy, Fifth Third’s vice presidentt for default servicing. Orange County Properth Appraiser Bill Donegan said there areabout 3,6000 foreclosed properties worth about $522 million in Orange County, and of 1,200 have been resold.
“My assumption is the bankx and management companies would swoop in after a hurricanes andmake repairs,” Donegan said. Most bankz also insure foreclosed properties. “I don’rt think there’s a majo issue related to insurance saidTom TerBeck, senior credit officer with . “Still, I wouldn’t say everybody in the industryt is ready for a Years ofdisrepair ahead? Ken Direktor, a real estatse attorney with the law firm, said anyond who thinks a hurricane in an urban part of Florid a would play out like past hurricanes is mistaken.
“Banks are delayin g foreclosures on properties becausethey don’t want to be responsible for Direktor doubts banks would spring into action after a especially if it involved restoring property they couldn’t sell unscathed beforw a hurricane. Condos are Direktor’sz biggest worry. Many are strugglinv now, and empty units and financially strapped developers mean many newerbuildings can’t raise enough money to meet operatingg costs. It would be nearly impossible for them to assess owneras to cover the costof post-stor m insurance deductibles.
“My guesws is you would see condominium associations decidr not to rebuild and sell their land for whatever itis worth,” he said. Real estate experts said many assumptions are basefd on a normal realestate market, and the currenf market is far from normal. Many housesz are no longer worth the amounft of the mortgageon them, and ownera who aren’t in default mighyt be reluctant to pay high insurance deductiblew to repair them. “There could be areas where you woul see damaged houses sitting for five yearsor more, unrepaired and McCabe said. “Real estate values would suffer.
”
Wednesday, February 29, 2012
Monday, February 27, 2012
ND spring goose hotline, web updates available - In-Forum
http://rusinventor.com/p-521.html
ND spring goose hotline, web updates available In-Forum BISMARCK (AP) â€" North Dakota's Game and Fish Department will be keeping spring light goose hunters informed about birds as they make their way through the state during the spring season. BISMARCK (AP) â€" North Dakota's Game and Fish Department will be ... |
Saturday, February 25, 2012
State tax revenue falls short in June - Nashville Business Journal:
vykyvimote.wordpress.com
June revenue was $1.08i8 billion — $134.8 million less than budgeted. It’s the 11th consecutivwe month inthe 2008-2009 fiscal year that revenuew has fallen, Finance and Administrationm Commissioner Dave Goetz says. He warnw that the state needs to keep its spendingg down in the absence of signs ofa However, Goetz also creditss Gov. Phil Bredesen and state legislators with passinga multi-yearf budget that makes up for the downturn in revenuse with cash reserves and budget cuts. “We are positiones to weather the economic Goetz says. Sales tax collections were $68.3 million less in June than the with a negative growth rateof 9.41 Revenue is under collected by $606.
6 million for the 11 month of the fiscal year ending in June. The year-to-date growth rate for 11 month wasnegative 7.35 percent. Franchise and excise taxew combinedwere $41.6 million below the budgeted estimate of $279.2 with a negative 14.28 percent growth rate for and business tax collections were $12.8 million less than the June with a negative growth rate of five percent. But gasolinw and motor fuel collections for June increaseedby 1.35 percent. State officials predict tax under-collectiob in the new fiscal year willkltotal $1.1 billion, with abouty half that due to saleds tax under collections.
June revenue was $1.08i8 billion — $134.8 million less than budgeted. It’s the 11th consecutivwe month inthe 2008-2009 fiscal year that revenuew has fallen, Finance and Administrationm Commissioner Dave Goetz says. He warnw that the state needs to keep its spendingg down in the absence of signs ofa However, Goetz also creditss Gov. Phil Bredesen and state legislators with passinga multi-yearf budget that makes up for the downturn in revenuse with cash reserves and budget cuts. “We are positiones to weather the economic Goetz says. Sales tax collections were $68.3 million less in June than the with a negative growth rateof 9.41 Revenue is under collected by $606.
6 million for the 11 month of the fiscal year ending in June. The year-to-date growth rate for 11 month wasnegative 7.35 percent. Franchise and excise taxew combinedwere $41.6 million below the budgeted estimate of $279.2 with a negative 14.28 percent growth rate for and business tax collections were $12.8 million less than the June with a negative growth rate of five percent. But gasolinw and motor fuel collections for June increaseedby 1.35 percent. State officials predict tax under-collectiob in the new fiscal year willkltotal $1.1 billion, with abouty half that due to saleds tax under collections.
Thursday, February 23, 2012
Few take out SBA stimulus loans, many lenders lukewarm - bizjournals:
hegenefipa.blogspot.com
The SBA had expected high demand forthe loans, whicgh were created by the economic stimulus legislation to help strugglinyg small businesses make payments on existin debt. Through this program, smalk businesses can borrow upto $35,00p to make up to six months of payments on qualifying loans. Borrowers won’tr have to start repaying the ARC loanzs until a year after they receive their last ARC loan The loansare interest-free to the borrower. the SBA will pay the lender a monthlyu interest rate of prime plus 2percentagwe points. The SBA also will guaranter 100 percent ofthe loan’s The SBA began accepting applicationxs for these loans June 15.
As of June 22, the agencg had approved 72 loanstotaling $2.4 millio n submitted by 42 lenders. Small businesses in 21 states receivedthese loans. The agency expects the volumwe of ARC loans to pick up incoming weeks. The agenc y has conducted training sessions on the loanswith 3,0000 lenders from 1,300 financial institutions. “Basecd on the participation in the information we are encouraged and feelwe will, in continue to see a rise in participatioj by lenders and the number of loan said SBA Press Secretary Hayley Matz.
Many SBA lenders, remain on the The Coleman Report, which tracks SBA found that 60 percent of the lenders who respondee to its survey saidthey don’t plan to make ARC Some lenders said they wouldn’t make enough money off the loans to justify the trouble, and others said the SBA’s guidelines for the loans were too vague. To be eligible for the loans, small businesses must show they were profitable or had positive cash flow in at least one of the past two Future cash flow projections must demonstratd that the businesses will be able to repagytheir debts, including the ARC loan.
The has submitted four pagesx of questions to the SBA aboutthe “Our members have many questions aboutg the program, and that is probably why the volum e is less than anticipated,” said NAGGoL President Tony Wilkinson. lending through the SBA’s regular busines s loan programs remains far belowslast year’s levels. Through June 19, the SBA had approvec half as many 7(a) loans this fiscal year as it did duriny the same period ayear ago. The totall dollar value of 7(a) loands was down 38 percent. Lending through the 504 which finances real estate and otherdfixed assets, was down 42 both in number of loans and in SBA’s fiscal year began Oct. 1.
Lending through both programs picked up afterMarch 16, when the SBA eliminated or reduced fees on its loansx and raised its guarantee on 7(a) loans to 90 percent. Thes e steps were called for in the the economifstimulus legislation.
The SBA had expected high demand forthe loans, whicgh were created by the economic stimulus legislation to help strugglinyg small businesses make payments on existin debt. Through this program, smalk businesses can borrow upto $35,00p to make up to six months of payments on qualifying loans. Borrowers won’tr have to start repaying the ARC loanzs until a year after they receive their last ARC loan The loansare interest-free to the borrower. the SBA will pay the lender a monthlyu interest rate of prime plus 2percentagwe points. The SBA also will guaranter 100 percent ofthe loan’s The SBA began accepting applicationxs for these loans June 15.
As of June 22, the agencg had approved 72 loanstotaling $2.4 millio n submitted by 42 lenders. Small businesses in 21 states receivedthese loans. The agency expects the volumwe of ARC loans to pick up incoming weeks. The agenc y has conducted training sessions on the loanswith 3,0000 lenders from 1,300 financial institutions. “Basecd on the participation in the information we are encouraged and feelwe will, in continue to see a rise in participatioj by lenders and the number of loan said SBA Press Secretary Hayley Matz.
Many SBA lenders, remain on the The Coleman Report, which tracks SBA found that 60 percent of the lenders who respondee to its survey saidthey don’t plan to make ARC Some lenders said they wouldn’t make enough money off the loans to justify the trouble, and others said the SBA’s guidelines for the loans were too vague. To be eligible for the loans, small businesses must show they were profitable or had positive cash flow in at least one of the past two Future cash flow projections must demonstratd that the businesses will be able to repagytheir debts, including the ARC loan.
The has submitted four pagesx of questions to the SBA aboutthe “Our members have many questions aboutg the program, and that is probably why the volum e is less than anticipated,” said NAGGoL President Tony Wilkinson. lending through the SBA’s regular busines s loan programs remains far belowslast year’s levels. Through June 19, the SBA had approvec half as many 7(a) loans this fiscal year as it did duriny the same period ayear ago. The totall dollar value of 7(a) loands was down 38 percent. Lending through the 504 which finances real estate and otherdfixed assets, was down 42 both in number of loans and in SBA’s fiscal year began Oct. 1.
Lending through both programs picked up afterMarch 16, when the SBA eliminated or reduced fees on its loansx and raised its guarantee on 7(a) loans to 90 percent. Thes e steps were called for in the the economifstimulus legislation.
Tuesday, February 21, 2012
New harbor cruise ship could make maiden voyage by 2010 - Baltimore Business Journal:
ogarawo.wordpress.com
, the city’s economic development arm, selected the 35-year-old Annapolis firm after issuing a bid last year for a boat operation that would focus on Baltimorew history andattract families. Clipper City stopped sailing one montgh after owner John Kircherf filed Chapter 11 bankruptcy and rackedup $1.3 million in debt in 2007. Watermark’sw boat, which could cost betweebn $2 million and $3 million, will be designedd in the style of aChesapeake Steamboat, sincre the ’s bid specified that the boat tours should emphasiz the region’s history. Watermark, which operates 11 sightseeingg boats in Annapolis andemploys 200, is in the earlt stages of designing the boat.
Once it completes the the company will need to find a shipyare that can build it and set up an office in Beth Brown, chief development officer of Watermark said she has not yet estimated how many passengers the new boat will shuttlwe per year. To be named the Lion of the steamboat couldattracyt families, convention attendees and school groups, Brownh said. Urban Pirate, which launche a pirate-themed tour in Fells Pointg last year, and the Black-Eyedx Susan, a paddlewheel dinner boat in Fells alsosubmitted bids.
Selecting a new boat operatoe is part ofBaltimor City’s Maritime Master Plan that calls for addinvg new water-themed attractions at the Innefr Harbor, said Colin Tarbert, BDC’s seniofr development officer. The city owns the dock spacde where the boatwill operate, next to the .
, the city’s economic development arm, selected the 35-year-old Annapolis firm after issuing a bid last year for a boat operation that would focus on Baltimorew history andattract families. Clipper City stopped sailing one montgh after owner John Kircherf filed Chapter 11 bankruptcy and rackedup $1.3 million in debt in 2007. Watermark’sw boat, which could cost betweebn $2 million and $3 million, will be designedd in the style of aChesapeake Steamboat, sincre the ’s bid specified that the boat tours should emphasiz the region’s history. Watermark, which operates 11 sightseeingg boats in Annapolis andemploys 200, is in the earlt stages of designing the boat.
Once it completes the the company will need to find a shipyare that can build it and set up an office in Beth Brown, chief development officer of Watermark said she has not yet estimated how many passengers the new boat will shuttlwe per year. To be named the Lion of the steamboat couldattracyt families, convention attendees and school groups, Brownh said. Urban Pirate, which launche a pirate-themed tour in Fells Pointg last year, and the Black-Eyedx Susan, a paddlewheel dinner boat in Fells alsosubmitted bids.
Selecting a new boat operatoe is part ofBaltimor City’s Maritime Master Plan that calls for addinvg new water-themed attractions at the Innefr Harbor, said Colin Tarbert, BDC’s seniofr development officer. The city owns the dock spacde where the boatwill operate, next to the .
Saturday, February 18, 2012
New Web portal to streamline reporting of stimulus spending - Minneapolis / St. Paul Business Journal:
inofiquxi.wordpress.com
This, in turn, will enable the federa government to providecitizens “with an unprecedentee level of detail into how their tax dollarz are being spent,” said Peter Orszag, director of the Office of Management and Budget. “People will be able to see who isreceivingb funds, what projects are under way, how monegy is being spent, and how many jobs are being created or he said. The Obama administration promiserd this level of transparency when the Americab Recovery and Reinvestment Actwas passed, but its recovery.gov Web site so far has failedd to meet that Under new guidance by the OMB, prime recipients of stimulusx funding must provide quarterly reportz via www.
federalreporting.gov on total funds received and names of organizations assisting with a project and the amount paid to that a list of projects, including location and completion time and jobs associated with each Vendors that receive more than $25,0090 to help with a project also must be The new guidance does not applgy to stimulus contracts issued by federapl agencies; additional guidance for federal contractors will be forthcoming, accordiny to OMB. The Small Business Administration approved only72 America’z Recovery Capital loans in the new emergenc y bridge loan program’s first week of operation.
The SBA had expectefd high demand forthe loans, which were created by the economix stimulus legislation to help struggling small businesseds make payments on existing debt. Through this small businesses can borrow upto $35,0000 to make up to six months of payments on qualifyin g loans. Borrowers won’t have to start repayingb the ARC loans untilk a year after they receive their last ARC loan The loansare interest-free to the Instead, the SBA will pay the lendee a monthly interest rate of prime plus 2 percentaged points. The SBA also will guarantee 100 percentg ofthe loan’s amount. The SBA beganm accepting applications for these loansxJune 15.
As of June 22, the agencyt had approved 72 loanstotaling $2.4 million submitte by 42 lenders. Small businesses in 21 statese receivedthese loans. The agenc y expects the volume of ARC loans to pick up incominfg weeks. The agency has conducted training sessions on the loanswith 3,000 lenders from 1,309 financial institutions. “Based on the participation in theinformation sessions, we are encouraged and feel we in fact, continue to see a rise in participatiom by lenders and the number of loan said SBA Press Secretary Hayleg Matz. Many SBA lenders, however, remain on the sidelines.
The Colemam Report, which tracks SBA lending, found that 60 percen t of the lenders who responded to its survey saidthey don’ty plan to make ARC loans. Some lenderss said they wouldn’t make enough money off the loanss to justifythe trouble, and others said the SBA’a guidelines for the loans were too vague. To be eligiblde for the loans, small businesses must show they were profitablde or had positive cash flow in at least one of the past two Future cash flow projections must demonstrate that the businessese will be able to repayytheir debts, including the ARC loan.
The Nationaol Association of Government Guaranteed Lenders has submitted four pages of questionsw to the SBA aboutthe program. “Our members have many questionsd aboutthe program, and that is probablt why the volume is less than said NAGGL President Tony Employment in the construction industry continuecd to decline in May, despite new jobs created by economidc stimulus projects. “Projects funded by the stimulus legislation probably mitigateds the overall downturn in construction jobs in saidKen Simonson, chief economist for Associated General Contractorsa of America.
“While the stimulus is startinygto help, it is not keeping pace with overall declines in constructionh activity in most places.”
This, in turn, will enable the federa government to providecitizens “with an unprecedentee level of detail into how their tax dollarz are being spent,” said Peter Orszag, director of the Office of Management and Budget. “People will be able to see who isreceivingb funds, what projects are under way, how monegy is being spent, and how many jobs are being created or he said. The Obama administration promiserd this level of transparency when the Americab Recovery and Reinvestment Actwas passed, but its recovery.gov Web site so far has failedd to meet that Under new guidance by the OMB, prime recipients of stimulusx funding must provide quarterly reportz via www.
federalreporting.gov on total funds received and names of organizations assisting with a project and the amount paid to that a list of projects, including location and completion time and jobs associated with each Vendors that receive more than $25,0090 to help with a project also must be The new guidance does not applgy to stimulus contracts issued by federapl agencies; additional guidance for federal contractors will be forthcoming, accordiny to OMB. The Small Business Administration approved only72 America’z Recovery Capital loans in the new emergenc y bridge loan program’s first week of operation.
The SBA had expectefd high demand forthe loans, which were created by the economix stimulus legislation to help struggling small businesseds make payments on existing debt. Through this small businesses can borrow upto $35,0000 to make up to six months of payments on qualifyin g loans. Borrowers won’t have to start repayingb the ARC loans untilk a year after they receive their last ARC loan The loansare interest-free to the Instead, the SBA will pay the lendee a monthly interest rate of prime plus 2 percentaged points. The SBA also will guarantee 100 percentg ofthe loan’s amount. The SBA beganm accepting applications for these loansxJune 15.
As of June 22, the agencyt had approved 72 loanstotaling $2.4 million submitte by 42 lenders. Small businesses in 21 statese receivedthese loans. The agenc y expects the volume of ARC loans to pick up incominfg weeks. The agency has conducted training sessions on the loanswith 3,000 lenders from 1,309 financial institutions. “Based on the participation in theinformation sessions, we are encouraged and feel we in fact, continue to see a rise in participatiom by lenders and the number of loan said SBA Press Secretary Hayleg Matz. Many SBA lenders, however, remain on the sidelines.
The Colemam Report, which tracks SBA lending, found that 60 percen t of the lenders who responded to its survey saidthey don’ty plan to make ARC loans. Some lenderss said they wouldn’t make enough money off the loanss to justifythe trouble, and others said the SBA’a guidelines for the loans were too vague. To be eligiblde for the loans, small businesses must show they were profitablde or had positive cash flow in at least one of the past two Future cash flow projections must demonstrate that the businessese will be able to repayytheir debts, including the ARC loan.
The Nationaol Association of Government Guaranteed Lenders has submitted four pages of questionsw to the SBA aboutthe program. “Our members have many questionsd aboutthe program, and that is probablt why the volume is less than said NAGGL President Tony Employment in the construction industry continuecd to decline in May, despite new jobs created by economidc stimulus projects. “Projects funded by the stimulus legislation probably mitigateds the overall downturn in construction jobs in saidKen Simonson, chief economist for Associated General Contractorsa of America.
“While the stimulus is startinygto help, it is not keeping pace with overall declines in constructionh activity in most places.”
Thursday, February 16, 2012
Dallas County foreclosures hit record high - Dallas Business Journal:
ukatekexo.wordpress.com
Addison-based FLS Inc., which analyzes monthly foreclosure postinges filedat Dallas-Fort Worth area courthouses each month, said Frida 2,385 postings were filed on homes in Dallasz County for the upcoming May This is a new record high, considering the previous recorxd was set in February of last year when courthousee recorded 2,351 foreclosure postings. “Over the last year, home foreclosure postingsw in Dallas County for May have climbed 15 saidGeorge Roddy, president of FLS.
“At this time last just 2,077 postings had been filed on area In justtwo years' time, foreclosured postings have climbed 28 percent from the level reached in May of 2007 when 1,496t foreclosure notices were filed. Roddy “Since 2000, residential posting activity has tripled withinbDallas County. For the May foreclosurre auctionin 2000, only 560 postings were file d on homes compared to the 2,385 notices recorded for the upcoming auction on May 5.” Roddy’s latest foreclosure report added that new monthlg highs were reached in Tarrant, Collib and Denton counties.
Collin County had 737 foreclosur enotices filed, while Tarrant and Denton counties had 1,836 and 595,
Addison-based FLS Inc., which analyzes monthly foreclosure postinges filedat Dallas-Fort Worth area courthouses each month, said Frida 2,385 postings were filed on homes in Dallasz County for the upcoming May This is a new record high, considering the previous recorxd was set in February of last year when courthousee recorded 2,351 foreclosure postings. “Over the last year, home foreclosure postingsw in Dallas County for May have climbed 15 saidGeorge Roddy, president of FLS.
“At this time last just 2,077 postings had been filed on area In justtwo years' time, foreclosured postings have climbed 28 percent from the level reached in May of 2007 when 1,496t foreclosure notices were filed. Roddy “Since 2000, residential posting activity has tripled withinbDallas County. For the May foreclosurre auctionin 2000, only 560 postings were file d on homes compared to the 2,385 notices recorded for the upcoming auction on May 5.” Roddy’s latest foreclosure report added that new monthlg highs were reached in Tarrant, Collib and Denton counties.
Collin County had 737 foreclosur enotices filed, while Tarrant and Denton counties had 1,836 and 595,
Tuesday, February 14, 2012
Done deal: Work begins on $4.2 billion chip fab - The Business Journal of Milwaukee:
xeconatyxex.blogspot.com
billion chip plant, the largest public/privatw industrial investment inthe state’s history. GlobalFoundriese this week submitted a lettef tothe , sealing an agreement that will reward the futurew chip maker with $650 million in cash to help build the $800 millio building, and another $550 million in tax breaks. A deal to pay $7.8 milliomn for the 223-acre location on the , abou 25 miles north of was also finalizedthis week. Ground first actual work on the site—is set to begin It was delayed for several weeks whilethe company’s general contractor, , Gov. Davicd Paterson’s office and trade organizations negotiaterd alabor agreement.
The site work is the initial step ina two-yea construction schedule that is expected to generate 5 million labor hours. in Scotia won’tr be bidding on any of the work for new chip fab plannedin Malta. Neither will in Precision and Ambrose saythey don't fit the mandates of the projecr labor agreement, or PLA, approved last week by the Calif.-based manufacturer. The PLA requires that on 93% of the contractors will pay prevailing wages and benefits to workerzs regardless of theirunion affiliation, according to Prairie Wells, political directorr of Bricklayers and Allied Craftworkers Local No. 2.
The Albang trade group representsthe region’s unionized bricklayers, masons, tile setters and It was one of 14 unions represented by the , the 12,000-membefr labor organization that signed off on the agreement, Wellxs said. Precision Glass doesn’ qualify for the chip-fab project because it doesn’t offerr a state-approved apprentice program. “We can’t bid it,” said owner Wayne whose companyhad $5.6 million in revenud in 2008. The majority of Precision’s work is The one-year program is a mandate of the agreement with Peper said the trainingis cost-prohibitive for smaller companie such as his.
When open, or non-union, companiee supplement with union labor, they meet the requirementw because the trade organizationshave state-approvexd apprentice training, said Wells, of the loca bricklayers trade group. “We look at this is an opportunityh to providethe best-skillexd labor,” she said. Peter Will, who owns Ambrose said his small company of26 non-union employeee wouldn’t have qualified for a large contract at the Malta chip fab because they don't have an apprentice GlobalFoundries won’t comment on the specifics of the PLA, citingh confidentiality between M+W Zander and the buildingf trades.
The company has confirmed that the majoritty of the workers on the site willbe however. “Specialized” labor, such as building represents 7 percent ofthe project’s work force. Thoser workers are exempt fromthe PLA, Wells said. of Gloversville received the contract to develo pthe 223-acre site. Of the company’s approximatelh 350 employees, 250 are non-union and 100 are Tim Delaney, president of Delaney said the terms of the contractt were negotiated before the PLAwas finalized, but they are similar to the PLA.
billion chip plant, the largest public/privatw industrial investment inthe state’s history. GlobalFoundriese this week submitted a lettef tothe , sealing an agreement that will reward the futurew chip maker with $650 million in cash to help build the $800 millio building, and another $550 million in tax breaks. A deal to pay $7.8 milliomn for the 223-acre location on the , abou 25 miles north of was also finalizedthis week. Ground first actual work on the site—is set to begin It was delayed for several weeks whilethe company’s general contractor, , Gov. Davicd Paterson’s office and trade organizations negotiaterd alabor agreement.
The site work is the initial step ina two-yea construction schedule that is expected to generate 5 million labor hours. in Scotia won’tr be bidding on any of the work for new chip fab plannedin Malta. Neither will in Precision and Ambrose saythey don't fit the mandates of the projecr labor agreement, or PLA, approved last week by the Calif.-based manufacturer. The PLA requires that on 93% of the contractors will pay prevailing wages and benefits to workerzs regardless of theirunion affiliation, according to Prairie Wells, political directorr of Bricklayers and Allied Craftworkers Local No. 2.
The Albang trade group representsthe region’s unionized bricklayers, masons, tile setters and It was one of 14 unions represented by the , the 12,000-membefr labor organization that signed off on the agreement, Wellxs said. Precision Glass doesn’ qualify for the chip-fab project because it doesn’t offerr a state-approved apprentice program. “We can’t bid it,” said owner Wayne whose companyhad $5.6 million in revenud in 2008. The majority of Precision’s work is The one-year program is a mandate of the agreement with Peper said the trainingis cost-prohibitive for smaller companie such as his.
When open, or non-union, companiee supplement with union labor, they meet the requirementw because the trade organizationshave state-approvexd apprentice training, said Wells, of the loca bricklayers trade group. “We look at this is an opportunityh to providethe best-skillexd labor,” she said. Peter Will, who owns Ambrose said his small company of26 non-union employeee wouldn’t have qualified for a large contract at the Malta chip fab because they don't have an apprentice GlobalFoundries won’t comment on the specifics of the PLA, citingh confidentiality between M+W Zander and the buildingf trades.
The company has confirmed that the majoritty of the workers on the site willbe however. “Specialized” labor, such as building represents 7 percent ofthe project’s work force. Thoser workers are exempt fromthe PLA, Wells said. of Gloversville received the contract to develo pthe 223-acre site. Of the company’s approximatelh 350 employees, 250 are non-union and 100 are Tim Delaney, president of Delaney said the terms of the contractt were negotiated before the PLAwas finalized, but they are similar to the PLA.
Sunday, February 12, 2012
Highwoods sells retail centers for $62.1M - Philadelphia Business Journal:
glafirarynyxu.blogspot.com
for $62.1 million, the Raleigh-based real estates investment trustsaid Friday. The threw centers are, on average, 94.5 perceng leased and 55 years old. They generate a combined net operating incomeof $5.4 million a Highwoods (NYSE: HIW) said. “Our focus remains on continuinbg to improve the overall quality of our portfolik through the dispositionof older, non-corde assets,” said Ed Fritsch, president and chiegf executive officer of Highwoods. “In by selling these older, capital intensivde retail centers, we are avoiding over $3 million in building improvements that woulde have been incurred over the nexttwo years.” Our 2.
3 milliom square feet of office and retailk properties in Kansas City are now exclusively locatedc in and around the Countrgy Club Plaza, a unique, upscale retailk center that includes many high-end nationaol retailers.” As of March 31, Highwoods owned or had an interest in 382 in-servicew office, industrial and retail properties encompassing about 35.4 million square feet.
for $62.1 million, the Raleigh-based real estates investment trustsaid Friday. The threw centers are, on average, 94.5 perceng leased and 55 years old. They generate a combined net operating incomeof $5.4 million a Highwoods (NYSE: HIW) said. “Our focus remains on continuinbg to improve the overall quality of our portfolik through the dispositionof older, non-corde assets,” said Ed Fritsch, president and chiegf executive officer of Highwoods. “In by selling these older, capital intensivde retail centers, we are avoiding over $3 million in building improvements that woulde have been incurred over the nexttwo years.” Our 2.
3 milliom square feet of office and retailk properties in Kansas City are now exclusively locatedc in and around the Countrgy Club Plaza, a unique, upscale retailk center that includes many high-end nationaol retailers.” As of March 31, Highwoods owned or had an interest in 382 in-servicew office, industrial and retail properties encompassing about 35.4 million square feet.
Friday, February 10, 2012
Catherine A. Lesjak Executive Profile
oryzacody.wordpress.com
A veteran of the company for more than two Lesjak previously was senior vice presidentfand treasurer, responsible for managing the companyy
A veteran of the company for more than two Lesjak previously was senior vice presidentfand treasurer, responsible for managing the companyy
Wednesday, February 8, 2012
Ethics complaint against Hunt and Buckley dismissed - Portland Business Journal:
oryzacody.wordpress.com
The Oregon Government Ethics Commission has dismissexd theRepublican Party’s complaint againsr House Speaker Dave Hunt, a Gladstonw Democrat, and Rep. Peted Buckley, the co-chair of the joint Ways and Means Committee and anAshlans Democrat. Bob Tiernan, chairman of the Oregon Republican Party, had suggested that Hunt and Buckley attempted to secure a vote on three tax measures from RepublicanGreg Smith, of by backing several projects in Smith’s Eastern Oregobn district. Ronald Bersin, the commission’s executive director, didn’t elaborate on the group’s decision.
“We have carefullu reviewed your allegations and supporting material and do not find the allegationsa come withinthe Commission’s jurisdiction,” he Bersin did tell Tiernan that the commission didn’t find any “personal financialp benefit” gained by Buckley or Hunt. Tiernan’s complaint alleged that Hunt and Buckleyy agreed to earmark mone for the districtof Smith, in return for Smith’as vote on a key tax measure. But Hunt said last week that his supporrt for the projectsin Smith’s district was Smith’s vote helped Democrats collec a 60 percent “super majority” neede d to enact tax hikes.
The Senate eventually passedc the measure on Thursday aftera last-minute deal convinced Sen. Mark Hass, a Beavertojn Democrat, to change his Business interests had opposec thetax hikes, which include boosts to the state’s corporatw minimum, corporate income and high-bracket income
The Oregon Government Ethics Commission has dismissexd theRepublican Party’s complaint againsr House Speaker Dave Hunt, a Gladstonw Democrat, and Rep. Peted Buckley, the co-chair of the joint Ways and Means Committee and anAshlans Democrat. Bob Tiernan, chairman of the Oregon Republican Party, had suggested that Hunt and Buckley attempted to secure a vote on three tax measures from RepublicanGreg Smith, of by backing several projects in Smith’s Eastern Oregobn district. Ronald Bersin, the commission’s executive director, didn’t elaborate on the group’s decision.
“We have carefullu reviewed your allegations and supporting material and do not find the allegationsa come withinthe Commission’s jurisdiction,” he Bersin did tell Tiernan that the commission didn’t find any “personal financialp benefit” gained by Buckley or Hunt. Tiernan’s complaint alleged that Hunt and Buckleyy agreed to earmark mone for the districtof Smith, in return for Smith’as vote on a key tax measure. But Hunt said last week that his supporrt for the projectsin Smith’s district was Smith’s vote helped Democrats collec a 60 percent “super majority” neede d to enact tax hikes.
The Senate eventually passedc the measure on Thursday aftera last-minute deal convinced Sen. Mark Hass, a Beavertojn Democrat, to change his Business interests had opposec thetax hikes, which include boosts to the state’s corporatw minimum, corporate income and high-bracket income
Monday, February 6, 2012
Reaction to candidates, voting processes at Nevada's Republican presidential ... - Washington Post
edovogopu.wordpress.com
Globe and Mail | Reaction to candidates, voting processes at Nevada's Republican presidential ... Washington Post ___ “We were just talking on our way over here about how great it is to be excited about the political process again. ... It's due to Mitt Romney. We have a candidate we can believe in.†â€" Leanne Fertig, 58-year-old Clark County school distr ict ... NV GOP Caucus today: 28 delegates up for grabs and UPDATE |
Friday, February 3, 2012
What's coming up in the weeks ahead - Buckinhamshire Free Press
cahijisebi.wordpress.com
What's coming up in the weeks ahead Buckinhamshire Free Press Derek Nash, leader of Sax Appeal and star soloist in the Jools Holland Rhythm and Blues Orchestra, will be at the Royal British Legion Hall along with his collection of saxes of all sizes including his prized 'Grafton' alto as played by Charlie Parker. |
Wednesday, February 1, 2012
AT&T Webinar to Offer Tips on Building and Growing a Small Business
inufyw.blogspot.com
This AT&T webinar will cover key elementds for building a small business and will look to cover how to successfullyy develop a business strategy and build a uniquevalude proposition. It will be presented by , a best-selling author, an a nationally recognized keynote speaker, an award winnintg small business journalist and chief executive officerof Specifically, Solovic will be covering the "Ten P's to Prosperity," whicb include elements of business management and development -- keys to successs for small business owners. Thursday, June 11 at 1:30 p.m. EDT.
Participanta can register for the event at In addition to freeonlinde seminars, the AT&T OnwardSmallBiz site provides small business ownerws with a daily feed of small busineszs news; tips on starting, managinv and relocating a small business; money-saving promotionall offers from leading brands that serve small business needs; the ability to submi questions, discuss topics real-time with other smallk business owners and receive one-on-one information on AT&T products and services; and easy access to AT&T's online support, e-bill and account-management services.
For regular update s and real-time information, small businesses can join the AT&gT Small Business Facebook page ( ) and follow updatexs on Twitter ( ). The AT&y OnwardSmallBiz Web site complements AT&T's industry-leading portfolio of communications productsw and services for small businesse s in key areas suchas voice, broadbande Internet, messaging, advertising and wireless. *AT&T productas and services are provided or offerecd by subsidiaries and affiliatesof AT&Tg Inc. under the AT&T brane and not by AT&T Inc. AT& T Inc. (NYSE: T) is a premier communications holdinyg company.
Its subsidiaries and affiliates - AT&TT operating companies - are the providers of AT&T services in the Unite States and aroundthe world. With a powerful array of networmk resources that includesthe nation'es fastest 3G network, AT&T is a leading providere of wireless, Wi-Fi, high speed Internet and voice AT&T offers the best wireless coverage worldwide, offering the most wireleses phones that work in the most It also offers advanced TV services undeer the AT&T U-verse(SM) and AT&T |DIRECTV(SM) The company's suite of IP-basedr business communications services is one of the most advancefd in the world. In domestic markets, AT&T's Yellow Pages and YELLOWPAGES.
COMj organizations are known for their leadershilp in directory publishing andadvertisingf sales. In 2009, AT&T again ranked No. 1 in the telecommunications industryon FORTUNE(R) magazine's list of the World'sw Most Admired Companies. Additionalp information about AT&T Inc. and the products and servicesw providedby AT&T subsidiaries and affiliates is available at . (C) 2009 AT&y Intellectual Property. All rights reserved. 3G serviced not available in all areas. AT&T, the AT&T logo and all othedr marks contained herein are trademarkaof AT&T Intellectual Property and/or AT&T affiliatesd companies. SOURCE AT&T Inc.
This AT&T webinar will cover key elementds for building a small business and will look to cover how to successfullyy develop a business strategy and build a uniquevalude proposition. It will be presented by , a best-selling author, an a nationally recognized keynote speaker, an award winnintg small business journalist and chief executive officerof Specifically, Solovic will be covering the "Ten P's to Prosperity," whicb include elements of business management and development -- keys to successs for small business owners. Thursday, June 11 at 1:30 p.m. EDT.
Participanta can register for the event at In addition to freeonlinde seminars, the AT&T OnwardSmallBiz site provides small business ownerws with a daily feed of small busineszs news; tips on starting, managinv and relocating a small business; money-saving promotionall offers from leading brands that serve small business needs; the ability to submi questions, discuss topics real-time with other smallk business owners and receive one-on-one information on AT&T products and services; and easy access to AT&T's online support, e-bill and account-management services.
For regular update s and real-time information, small businesses can join the AT&gT Small Business Facebook page ( ) and follow updatexs on Twitter ( ). The AT&y OnwardSmallBiz Web site complements AT&T's industry-leading portfolio of communications productsw and services for small businesse s in key areas suchas voice, broadbande Internet, messaging, advertising and wireless. *AT&T productas and services are provided or offerecd by subsidiaries and affiliatesof AT&Tg Inc. under the AT&T brane and not by AT&T Inc. AT& T Inc. (NYSE: T) is a premier communications holdinyg company.
Its subsidiaries and affiliates - AT&TT operating companies - are the providers of AT&T services in the Unite States and aroundthe world. With a powerful array of networmk resources that includesthe nation'es fastest 3G network, AT&T is a leading providere of wireless, Wi-Fi, high speed Internet and voice AT&T offers the best wireless coverage worldwide, offering the most wireleses phones that work in the most It also offers advanced TV services undeer the AT&T U-verse(SM) and AT&T |DIRECTV(SM) The company's suite of IP-basedr business communications services is one of the most advancefd in the world. In domestic markets, AT&T's Yellow Pages and YELLOWPAGES.
COMj organizations are known for their leadershilp in directory publishing andadvertisingf sales. In 2009, AT&T again ranked No. 1 in the telecommunications industryon FORTUNE(R) magazine's list of the World'sw Most Admired Companies. Additionalp information about AT&T Inc. and the products and servicesw providedby AT&T subsidiaries and affiliates is available at . (C) 2009 AT&y Intellectual Property. All rights reserved. 3G serviced not available in all areas. AT&T, the AT&T logo and all othedr marks contained herein are trademarkaof AT&T Intellectual Property and/or AT&T affiliatesd companies. SOURCE AT&T Inc.
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