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Rather, the school will retrofit it’se nearly 100 outdoor light polezwith light-emitting diodes that are solar-powered and wiree with smart technology to shut on and off In addition, the school will decorate its campuss with sculptures made by internationallhy acclaimed Santa Fe artist Tom Joycre that also include photovoltaic LED technology to lighf walkways, building entrances and other areas. The new products were developed byNoribachi LLC, an Albuquerque venture acceleratof established in 2007 to adapt solar and other cleam technology to every day consumer products, said Andrew head of the Bosque School and a membeer of Noribachi’s board of advisors.
“Noribachi is inventinh technologies that are not only useful to the school but that can be studiex by our students as part of our efforts to teacjh environmental science andenergy conservation,” Wooden said. “Thw solar-powered LED lighting uses less than 10 percent of the energy that our currentlighting consumes, and it’s just a simpl retrofit for what we already The sculptures also demonstrate how clean energyg can be aesthetically Finding new, every day applications for existinv clean technologies like PV while makinvg products that are accessible and useful to consumers are the centrap goals of Noribachi, said company co-founder Rhondqa Dibachi.
“We’re using solar technologyh in ways other than just PV sitting on a roof andlookin ugly,” Dibachi said. “We’rw looking at smaller and more distributed Dibachi said solar power is in its much the way computef processing technology was fourdecades ago. And, like the computeer industry, solar and otherr clean technologies will become more affordabl e and much more widel y used when innovators make simplre products available on amass scale. “It’s aboug the ‘democratization’ of solar power,” Dibachoi said.
“Information technology started big andbecams distributed, and we think clean tech is in that same Dibachi founded the company with her Farzad Dibachi. Both are engineers from the Silicomn Valley withstartup experience. They co-founded Niku an information technology firm in California that went publi in 2000 and was acquired byin 2003. Farzad also helperd found Diba Inc., a software firm sold to in 1997. They movedf to New Mexico in 2006 and formeed Noribachi to tap the emerging market for innovativse solarand clean-tech products. The company now has about a dozenj patents inthe pipeline, Dibach i said.
“Solar technology is so new that there’ s a huge amount of space for patentedd innovation,” she said. “For us, it’s like pickinfg up diamonds.” Noribachi employs 12 people ata 20,000-square-foot facility in north Albuquerquw to develop new technologg and conduct light assembly. It spinzs new products out throughstartup companies, such as the Santaz Fe firm Qnuru (pronounced kuh-NO-roo) that is designinv and marketing the PV-LED sculptures the Bosques School plans to buy.
which comes from the Swahili word for light combined with the lettert Qfor quality, opened on Aprik 7 with five employees and has received $100,000 in orderas for its lighting sculptures, said artist Tom Joyce. “With Qnuru, we’re working on the creativse edge ofmarrying technology, science and art,” Joyce said. “It brings all threee together in a seamless way to offer a solarlighting solution.” Noribachi is now forming an Albuquerque-based solar engineering services and solae retrofitting firm. It also launchexd California-based Green By Design, a Web site for environmentally award consumers thatoffers information, education and ratings for green products.
Dibachi said the compang is mostly self-funded, but it has 10 investors as limited partnersin Noribachi’s venturw acceleration fund, which finances research and development and provide capital for startups. Joe Cecchi, dean of the ’s School of Engineering and a memberof Noribachi’s advisory said the company is filling a markey niche. “They’re making solar powet more accessible and usable by targetingconsumet applications,” Cecchi said. “u don’t know if anybody else is doinyg that.
”
Monday, December 31, 2012
Sunday, December 30, 2012
Cincinnati corporations racking up writedowns - Business Courier of Cincinnati:
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The one-time charges against earnings – which represent the writedowhnof acquisition-related goodwill and otherd assets on local balance sheets are another painful indicator of how the economi downturn is zapping local While investors in these firms likelty are not surprised by the the size of the writedowns makes them hard for anyons to ignore: $965M for Fifth Third ’s goodwill impairment charge of $965 million, or $1.654 per share, came after the decline in the bank’ s stock price caused a “difference between market capitalizatiom and book value” of the company.
The companyg also took $82 million in non-cash impairmenty charges relatedto securities, bank-owned life insurancr policies and indemnification obligations with credi t card company Visa. $374.5M for Chiquit took a $374.5 million goodwill impairment charge to write down the value ofits $855 million investment in the produc e company . CEO Fernando Aguirre blamed “economicc conditions and lower category growth for thedownward adjustment.
$110nM for Cincinnati Financialtook $110 millionh in “other-than-temporary impairment charges” in the fourth quarte r and $510 million in such charges for the saying the reduced value of equity securities accountefd for 65 percent of the charges. $92M for Americaj Financial recognized $92 million in after-tax charges for other-than-temporart impairments on investments. More than three-fourths of thesre were attributableto fixed-maturity securities, whicuh the company intends to hold until they recover in value.
much more to come, for Macy’s In addition to the $161 million in fourth-quarter impairment chargexs announcedby , the company told investors that it’e still evaluating a charge for goodwilll impairment related to its 2005 acquisition of the May Department Stores Co. It “currently estimates that the amount of goodwillp to be written down in the fourth quarter of 2008 isbetweenm $4.5 billion and $5.5 billion,” or $10 to $12.5o per diluted share. Experts are split over what it means. “T o some degree it’s a destruction of shareholder saidMark Batty, senior equity analyst at in Philadelphia.
Goodwillp impairment results whencompanies , in hindsight, admit they overpai d for an acquisition. They take the charged well after the acquisitionwas made. But it hurts shareholders becausd it means management admits it misjudged the valuse of assetsit purchased. Even though the current environmentr has caused many asset valuesto decline, managemeny is supposed to considef worst-case scenarios in valuing those assets. “It’s partiallyy a function of the and management being too optimistic on the earningaspower it’s acquiring,” Batty said. But otherse argue that investors are often aware ofa company’s impairee assets long before charges are recognized.
“They are an after-the-facr acknowledgement,” said Phil an associate professor of financeat . “Thw intelligent investor already knewthat Macy’s overpaid (for the May Departmentg Stores chain) and they’re not going to realized the extra earnings that’s supposed to bring. They’ve alread y discounted that into the price of the One way of gauging the impactof impairments, Glasgo said, is to follow the stock price in the days aftefr a disclosure. If shares decline faster than thebroader market, it could be a sign that investorsx were surprised by the severity of the writedown.
Anothedr expert suggests looking for the underlyin reasons for theasset
The one-time charges against earnings – which represent the writedowhnof acquisition-related goodwill and otherd assets on local balance sheets are another painful indicator of how the economi downturn is zapping local While investors in these firms likelty are not surprised by the the size of the writedowns makes them hard for anyons to ignore: $965M for Fifth Third ’s goodwill impairment charge of $965 million, or $1.654 per share, came after the decline in the bank’ s stock price caused a “difference between market capitalizatiom and book value” of the company.
The companyg also took $82 million in non-cash impairmenty charges relatedto securities, bank-owned life insurancr policies and indemnification obligations with credi t card company Visa. $374.5M for Chiquit took a $374.5 million goodwill impairment charge to write down the value ofits $855 million investment in the produc e company . CEO Fernando Aguirre blamed “economicc conditions and lower category growth for thedownward adjustment.
$110nM for Cincinnati Financialtook $110 millionh in “other-than-temporary impairment charges” in the fourth quarte r and $510 million in such charges for the saying the reduced value of equity securities accountefd for 65 percent of the charges. $92M for Americaj Financial recognized $92 million in after-tax charges for other-than-temporart impairments on investments. More than three-fourths of thesre were attributableto fixed-maturity securities, whicuh the company intends to hold until they recover in value.
much more to come, for Macy’s In addition to the $161 million in fourth-quarter impairment chargexs announcedby , the company told investors that it’e still evaluating a charge for goodwilll impairment related to its 2005 acquisition of the May Department Stores Co. It “currently estimates that the amount of goodwillp to be written down in the fourth quarter of 2008 isbetweenm $4.5 billion and $5.5 billion,” or $10 to $12.5o per diluted share. Experts are split over what it means. “T o some degree it’s a destruction of shareholder saidMark Batty, senior equity analyst at in Philadelphia.
Goodwillp impairment results whencompanies , in hindsight, admit they overpai d for an acquisition. They take the charged well after the acquisitionwas made. But it hurts shareholders becausd it means management admits it misjudged the valuse of assetsit purchased. Even though the current environmentr has caused many asset valuesto decline, managemeny is supposed to considef worst-case scenarios in valuing those assets. “It’s partiallyy a function of the and management being too optimistic on the earningaspower it’s acquiring,” Batty said. But otherse argue that investors are often aware ofa company’s impairee assets long before charges are recognized.
“They are an after-the-facr acknowledgement,” said Phil an associate professor of financeat . “Thw intelligent investor already knewthat Macy’s overpaid (for the May Departmentg Stores chain) and they’re not going to realized the extra earnings that’s supposed to bring. They’ve alread y discounted that into the price of the One way of gauging the impactof impairments, Glasgo said, is to follow the stock price in the days aftefr a disclosure. If shares decline faster than thebroader market, it could be a sign that investorsx were surprised by the severity of the writedown.
Anothedr expert suggests looking for the underlyin reasons for theasset
Saturday, December 29, 2012
McCollum calls for statewide mortgage fraud network - Jacksonville Business Journal:
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McCollum sent letters to the , , and Floridw Bar calling for a cooperative approach in dealinh withmortgage fraud. McCollum has receivedr hundreds of complaints on variouas issues related to mortgag fraud ranging from criminal fraued toforeclosure rescue. “Thizs mortgage fraud crisis is similar to a stateof emergency,” McCollum said in a “It will take an all-hands-on-decki approach between our state’zs agencies to effectively address our citizens’ With this new line of communication opening, McCollunm said he wants to make sure that complaints are reviewed by the appropriat e entity, whether at the local or state The attorney general’s offic has charged 40 people with criminal mortgage fraud sinced 2007, most investigated by the Department of Law Enforcemenft and other criminal investigative agencies.
McCollum sent letters to the , , and Floridw Bar calling for a cooperative approach in dealinh withmortgage fraud. McCollum has receivedr hundreds of complaints on variouas issues related to mortgag fraud ranging from criminal fraued toforeclosure rescue. “Thizs mortgage fraud crisis is similar to a stateof emergency,” McCollum said in a “It will take an all-hands-on-decki approach between our state’zs agencies to effectively address our citizens’ With this new line of communication opening, McCollunm said he wants to make sure that complaints are reviewed by the appropriat e entity, whether at the local or state The attorney general’s offic has charged 40 people with criminal mortgage fraud sinced 2007, most investigated by the Department of Law Enforcemenft and other criminal investigative agencies.
Monday, December 24, 2012
Justin Bieber's behavior is reportedly giving his record label fits. - New York Daily News
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New York Daily News | Justin Bieber's behavior is reportedly giving his record label fits. New York Daily News While some close to Bieber think he's simply exhibiting teen angst, another source tells us, รข€œThis could really damage his reputation if they don't get it under control. Justin is someone young teens look up to and this kind of behavior can r eally hurt ... |
Saturday, December 22, 2012
Economist: FDIC gearing up for bank closures - Jacksonville Business Journal:
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“They know they’re going to take down a largs number of banks andthey can’t do it untio they’re staffed up,” said Mark chief economist and director of research for the Real Estate Centerd at . Dotzour expectd federal regulators to establish an similar to the that disposed of assetas belonging toinsolvent S&Ls in the late 1980sw and early 1990s. “Once they star t to sell [foreclosed real estate], we’lo find out what the market really Dotzour told attendees at a local economic summity hosted by the Tampa chapters ofthe , and NAIOP.
Dotzour blamed federal intervention for the lack of commercial real estatse investment activity inrecentt months, as well as the failure of businessesa to make major decisions. “Nobody knows what to do so they’rre doing nothing,” Dotzour said at the luncheon meetint atthe . Government, in its quest to help the is causing harm by proppinf up failing companies and regularly changing he said. “No one can predict what the governmentgwill do,” Dotzour “People are frozen. It’s not that they don’t want to invesr in the future, the rules are he said.
He jokingly callesd the FederalReserve “inksters” for routinely printinfg money to bail out big including banks that are still not making many loans. The government’e role in a capitalistic he said, “is to make the rules and get off thedances floor.” Businesses and individuals that can’tg pay their bills should resolve their problems in bankruptcyu court, not with money from the government, he It’s a process that has workefd for decades, for generations. “Everyonse has a lesson to learn here, includintg you and me,” he said. “Wd have to live within our means.
” Dotzour expects foreclosure rates to continueto climb, real estate prices to fall more and cap ratez to rise to at least 9 percent before leveling off. In 2010 and interest rates will begin to aswill inflation. Once investords realize the market isat bottom, deals will begin to flow again, he In the meantime, he comparedf the bad loans that remain on banks’ booksd to a smelly cat litter box and the feds keep throwing more litter on top to mask the But they’ll eventually have to remove the organic materiao to fix the problem.
“They know they’re going to take down a largs number of banks andthey can’t do it untio they’re staffed up,” said Mark chief economist and director of research for the Real Estate Centerd at . Dotzour expectd federal regulators to establish an similar to the that disposed of assetas belonging toinsolvent S&Ls in the late 1980sw and early 1990s. “Once they star t to sell [foreclosed real estate], we’lo find out what the market really Dotzour told attendees at a local economic summity hosted by the Tampa chapters ofthe , and NAIOP.
Dotzour blamed federal intervention for the lack of commercial real estatse investment activity inrecentt months, as well as the failure of businessesa to make major decisions. “Nobody knows what to do so they’rre doing nothing,” Dotzour said at the luncheon meetint atthe . Government, in its quest to help the is causing harm by proppinf up failing companies and regularly changing he said. “No one can predict what the governmentgwill do,” Dotzour “People are frozen. It’s not that they don’t want to invesr in the future, the rules are he said.
He jokingly callesd the FederalReserve “inksters” for routinely printinfg money to bail out big including banks that are still not making many loans. The government’e role in a capitalistic he said, “is to make the rules and get off thedances floor.” Businesses and individuals that can’tg pay their bills should resolve their problems in bankruptcyu court, not with money from the government, he It’s a process that has workefd for decades, for generations. “Everyonse has a lesson to learn here, includintg you and me,” he said. “Wd have to live within our means.
” Dotzour expects foreclosure rates to continueto climb, real estate prices to fall more and cap ratez to rise to at least 9 percent before leveling off. In 2010 and interest rates will begin to aswill inflation. Once investords realize the market isat bottom, deals will begin to flow again, he In the meantime, he comparedf the bad loans that remain on banks’ booksd to a smelly cat litter box and the feds keep throwing more litter on top to mask the But they’ll eventually have to remove the organic materiao to fix the problem.
Friday, December 21, 2012
University of Maryland School of Medicine awarded $20M from NIH - Baltimore Business Journal:
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The grant is the largest awarded tothe school’s Institute for Genome Sciences sincde it was formed two years ago. The contractf was given to the university’s Instituted for Genome Sciences, which will use the mone to create a Genomic Sequencing Center forInfectiouz Diseases. The institute will use the funding to sequencee and analyze the genomesd of bioterrorism agents anddisease outbreaks, such as swine flu or Severer Acute Respiratory Syndrome (SARS). The researchy could lead to the creation ofnew drugs, vaccines and diagnosticx tools to treat infectious diseases. The , a divisio of the NIH, awarded contracts to three institutionsd to create genomicsequencing centers.
The othe r two awards went to the Broaxd Institute at and Harvard andthe J. Craig Venter Institute, a nonprofigt research institute in Rockville thatreceived $43 million from the NIH. The NIH designeds the program to allow research centersa like the Institute for Genome Sciences to respond quickly to in the event of a bioterrorisft attack or an outbreak of aninfectious disease. With the creatio of the genomic sequencing Maryland scientists can quickly gain approval from the NIH to sequenced and analyze the genome sequencwe of a new The Institute for Genome Sciences is heade dby Dr.
Claire Fraser-Liggett, a genome scientistt and microbiologist and the former president of the Institute of Genomiv Researchin Rockville. It is located at the University of Baltimore BioPark.
The grant is the largest awarded tothe school’s Institute for Genome Sciences sincde it was formed two years ago. The contractf was given to the university’s Instituted for Genome Sciences, which will use the mone to create a Genomic Sequencing Center forInfectiouz Diseases. The institute will use the funding to sequencee and analyze the genomesd of bioterrorism agents anddisease outbreaks, such as swine flu or Severer Acute Respiratory Syndrome (SARS). The researchy could lead to the creation ofnew drugs, vaccines and diagnosticx tools to treat infectious diseases. The , a divisio of the NIH, awarded contracts to three institutionsd to create genomicsequencing centers.
The othe r two awards went to the Broaxd Institute at and Harvard andthe J. Craig Venter Institute, a nonprofigt research institute in Rockville thatreceived $43 million from the NIH. The NIH designeds the program to allow research centersa like the Institute for Genome Sciences to respond quickly to in the event of a bioterrorisft attack or an outbreak of aninfectious disease. With the creatio of the genomic sequencing Maryland scientists can quickly gain approval from the NIH to sequenced and analyze the genome sequencwe of a new The Institute for Genome Sciences is heade dby Dr.
Claire Fraser-Liggett, a genome scientistt and microbiologist and the former president of the Institute of Genomiv Researchin Rockville. It is located at the University of Baltimore BioPark.
Thursday, December 20, 2012
Efficiency drives funding for Dayforce - San Antonio Business Journal:
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a software developer that helpse businesses measure and manage workforce productivity, has raises $15 million. The company is a reincarnationbof Atlanta-based Workbits — createe after Canadian serial entrepreneuer David Ossip bought Workbits’ assets in May. Workbits founder John Orr approached Ossip afte r being unable toraise follow-on financinvg for his startup. Dayforce, whicuh employs about 30 and is headquartered in Atlantaand Toronto, targets the manufacturing, health-care and financial services industries. Those sectorsd have a high volumse of hourlyworkers — the variable part of a operating expenses, said Orr, now Dayforce’s chief strateg y officer.
“Typically, 60 percent of their [operating is labor spend,” Orr said. Dayforce’s software which includes budgeting, scheduling, task managemeny and time and attendance modules, helps do more with theitr workforce. “The software helps define performance measuresw for the workforce andautomatesa planning, scheduling and tracking of employees,” Ossiop said. “The end goal is to increase workforcw output, while keeping percentage wage costsin line.” Dayforce’s software, Orr can boost customer revenue by 0.5 percent to 3 percen t and can decrease average annuapl labor cost by 3 percent to 8 percent.
The cost of the subscriptiom depends on the size of thebusiness — from $2 to $9 per per month. Ossip led Dayforce’s $15 million round and was joinecd by investors in hispreviouss companies, including , which was acquired by Alpharetta-based for $227 millioh in 2007. The Canadian businessman, however, brough more than dollars to the table. “Ossip knowsa the industry,” Orr said, and “has a provemn track record of building successfull companiesand value.” Ossip has ambitiouss plans for Dayforce — includingh launching a domestic and globa l expansion.
Dayforce is chasing a $14 billion market in the United Ossip said, adding he plansz to sell into Europe and Asia. “Our typex of solutions extend beyondNorth America,” Ossip “It’s a global problem.” Michael general partner at CEO Ventures, was impressed with Workbits. “The product was beautiful,” Price “The graphic design, the thought and attention to detail, the menus ... it was some of the best I’vre ever seen.” Companies in the performance managemenf space are doing well and revenud isholding up, Price said. That succeses has drawn an influx ofnew competitors.
“Within the next a lot of the software programs beingt built will be coming online with a lot of salezs people swingingfor revenue,” Price “Certainly competition within that spacde is going to increase which could hurt
a software developer that helpse businesses measure and manage workforce productivity, has raises $15 million. The company is a reincarnationbof Atlanta-based Workbits — createe after Canadian serial entrepreneuer David Ossip bought Workbits’ assets in May. Workbits founder John Orr approached Ossip afte r being unable toraise follow-on financinvg for his startup. Dayforce, whicuh employs about 30 and is headquartered in Atlantaand Toronto, targets the manufacturing, health-care and financial services industries. Those sectorsd have a high volumse of hourlyworkers — the variable part of a operating expenses, said Orr, now Dayforce’s chief strateg y officer.
“Typically, 60 percent of their [operating is labor spend,” Orr said. Dayforce’s software which includes budgeting, scheduling, task managemeny and time and attendance modules, helps do more with theitr workforce. “The software helps define performance measuresw for the workforce andautomatesa planning, scheduling and tracking of employees,” Ossiop said. “The end goal is to increase workforcw output, while keeping percentage wage costsin line.” Dayforce’s software, Orr can boost customer revenue by 0.5 percent to 3 percen t and can decrease average annuapl labor cost by 3 percent to 8 percent.
The cost of the subscriptiom depends on the size of thebusiness — from $2 to $9 per per month. Ossip led Dayforce’s $15 million round and was joinecd by investors in hispreviouss companies, including , which was acquired by Alpharetta-based for $227 millioh in 2007. The Canadian businessman, however, brough more than dollars to the table. “Ossip knowsa the industry,” Orr said, and “has a provemn track record of building successfull companiesand value.” Ossip has ambitiouss plans for Dayforce — includingh launching a domestic and globa l expansion.
Dayforce is chasing a $14 billion market in the United Ossip said, adding he plansz to sell into Europe and Asia. “Our typex of solutions extend beyondNorth America,” Ossip “It’s a global problem.” Michael general partner at CEO Ventures, was impressed with Workbits. “The product was beautiful,” Price “The graphic design, the thought and attention to detail, the menus ... it was some of the best I’vre ever seen.” Companies in the performance managemenf space are doing well and revenud isholding up, Price said. That succeses has drawn an influx ofnew competitors.
“Within the next a lot of the software programs beingt built will be coming online with a lot of salezs people swingingfor revenue,” Price “Certainly competition within that spacde is going to increase which could hurt
Tuesday, December 18, 2012
J.G. Wentworth bankruptcy plan OK
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As part of the deal, J.G. Wentworth’s private equity firm of New York, will invest $100 millionn of new equity to support ongoing It will also provide as muchas $35 millionn for the company to buy loans from lenders in exchange for new preferred interests in the company. The Bryn Mawr, Pa.-based company sought acceptance of its plan from its lenderz before what is called a prepackaged More than 90 percent of the term lenders thecompany said. J.G.
Wentworthh said its decision to file for Chapter 11 came after an extensive review of alternatives to addresse pressuresfrom “extremely challenging capital markets and high borrowinv costs”, and was unanimously approve d by the company’s board of directors. In December, J.G. Wentwortyh laid off 120 of its 200 employeex and closed its Las Vegas Foundedin 1991, it moved from Philadelphia to Bryn Mawr in 2003.
As part of the deal, J.G. Wentworth’s private equity firm of New York, will invest $100 millionn of new equity to support ongoing It will also provide as muchas $35 millionn for the company to buy loans from lenders in exchange for new preferred interests in the company. The Bryn Mawr, Pa.-based company sought acceptance of its plan from its lenderz before what is called a prepackaged More than 90 percent of the term lenders thecompany said. J.G.
Wentworthh said its decision to file for Chapter 11 came after an extensive review of alternatives to addresse pressuresfrom “extremely challenging capital markets and high borrowinv costs”, and was unanimously approve d by the company’s board of directors. In December, J.G. Wentwortyh laid off 120 of its 200 employeex and closed its Las Vegas Foundedin 1991, it moved from Philadelphia to Bryn Mawr in 2003.
Monday, December 17, 2012
Non-compete suit against tech guru intensifies - Sacramento Business Journal:
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Faith Gay, lead counsel for plaintiffc , stated in an April 23 court hearingthat “America’s Most host John Walsh dangled a businesz opportunity for Reed Elsevier on behalg of Asher. “Becoming joint-venturw partners in a commercialk venture iswhat [Walsh] was askingf us to consider,” she said of an encounter after an Aprill 9 hearing. A court transcript quotes Gay at an April 23 hearing as sayinb ofthe encounter: “They said, ‘You can get rich off of too.’ It was said to us right in the hall by Mr. Walsj and others, with these men standingf there.” Asher said Walsh is a “dear friend,” but has no financiall interest inhis businesses.
Walsb is just trying to help his new datasortingf company, TLO, provide free technologyu for law enforcement officials to combat online childx predators, Asher said. Asher’s non-compete has a limited exception to do charitable work forthe , which was foundefd by Walsh and his Reed Elsevier said Asher is abusingf that exception, but Asher said the suit is without At the April 23 court appearance, one of Asher’w lawyers told the court that Asher is refining a technology caller FairPlay that can target online predators. The systenm had already identified more than 1 million computers inthe U.S. that have distributed child she said.
Another of Asher’s lawyers, Michael Moore, the former attorneh general of Mississippi, gave more “What we’re involved in is a project with the National Center for Missing and Exploited working with the stateof Florida, the , the Secret Service, the , the U.S. attorney’s office, the state attorney’se office, the Florida Department of Law Enforcement,” Moore according to a court Reed Elsevier, a $7.8 billion-revenuw Anglo-Dutch company with U.S. headquarterxs in Massachusetts and offices inBoca Raton, filedr a complaint on Aprilk 2 in Palm Beachn County Circuit Court, saying that Asher is breaching his contracty by starting TLO.
Asher in 2004 sold Boca Raton-basecd , his second major database company, to Reed Elsevier’s for $775 The suit alleges the non-compete agreement ends in but Reed Elsevier contends that Asher startesd violatinghis five-year agreement about two yearsa early. Last fall, Asher leased 143,000p square feet of office space in the Boca Ratoj Corporate Parkand Campus, wherwe Seisint and , Asher’s first big success story, were once The space houses TLO, as well as , Asher’w cancer research company, and Schmitt and Rossi, a fine art Asher has said he plans to hire up to 5,000 employeese for the ventures, and TLO will have the most.
Ashet has remained vague aboutt plansfor TLO, except to insist that he will alwaysz give away his technology for free to hunt pedophiles. He has surroundec himself with high-profile supporters like Moore and former Florida Attorneyg GeneralBob Butterworth. Moore recentlt asked to join the caseas Asher’s co-counsel, and he, Walshh and Butterworth have appeared at court hearings to supporf Asher. Both sides have pushed for expedited Depositions are scheduled to beginMay 5, and Gay is plannin to depose Asher, Butterworth and Moore.
Reed Elsevier also contendd that Butterworth approachedanother Massachusetts-based technologyu company about doing business with but Butterworth denied that in an affidavit. Asher’sw attorneys have asked to have parts of the suit throwm out and requestedthe non-compete be declared “void and/oer unenforceable because it is contravenes public policy, and is unreasonable undetr [Florida law].” They have also filed a motiom for sanctions against Reed Elsevier for filin g what they say was a falser affidavit in support of their Asher’s team is asking for deposition and other discovery as well as unspecified sanctions agains Reed Elsevier.
Asher said he previouslyg faced off with Gay when she representefChoice Point, another company Asher was involved with, in a suit that had a confidential settlement. While Asher’s team has questioned the pointr of filing a lawsuit with only four to five months left inthe non-competwe agreement, Marlene Quintana, a labor and employmeng attorney with Gray Robinson, P.A. in said there is no hard and fast rule abougt when former employers bringsuch suits.
“Non-competew litigation is expensive and and therefore the parties generally weightheifr interests, as well as their likelihood of success, againstt the damage or harm being done by the alleged violation,” she In an e-mail, Asher said the lawsuit is meant to stalkl the competition that Reed Elsevier expects when his contract runs out. “Withy 123 days left in my non-compete, they’res scared to death of what I may invenfthis time,” he wrote.
“That’s what this suit is
Faith Gay, lead counsel for plaintiffc , stated in an April 23 court hearingthat “America’s Most host John Walsh dangled a businesz opportunity for Reed Elsevier on behalg of Asher. “Becoming joint-venturw partners in a commercialk venture iswhat [Walsh] was askingf us to consider,” she said of an encounter after an Aprill 9 hearing. A court transcript quotes Gay at an April 23 hearing as sayinb ofthe encounter: “They said, ‘You can get rich off of too.’ It was said to us right in the hall by Mr. Walsj and others, with these men standingf there.” Asher said Walsh is a “dear friend,” but has no financiall interest inhis businesses.
Walsb is just trying to help his new datasortingf company, TLO, provide free technologyu for law enforcement officials to combat online childx predators, Asher said. Asher’s non-compete has a limited exception to do charitable work forthe , which was foundefd by Walsh and his Reed Elsevier said Asher is abusingf that exception, but Asher said the suit is without At the April 23 court appearance, one of Asher’w lawyers told the court that Asher is refining a technology caller FairPlay that can target online predators. The systenm had already identified more than 1 million computers inthe U.S. that have distributed child she said.
Another of Asher’s lawyers, Michael Moore, the former attorneh general of Mississippi, gave more “What we’re involved in is a project with the National Center for Missing and Exploited working with the stateof Florida, the , the Secret Service, the , the U.S. attorney’s office, the state attorney’se office, the Florida Department of Law Enforcement,” Moore according to a court Reed Elsevier, a $7.8 billion-revenuw Anglo-Dutch company with U.S. headquarterxs in Massachusetts and offices inBoca Raton, filedr a complaint on Aprilk 2 in Palm Beachn County Circuit Court, saying that Asher is breaching his contracty by starting TLO.
Asher in 2004 sold Boca Raton-basecd , his second major database company, to Reed Elsevier’s for $775 The suit alleges the non-compete agreement ends in but Reed Elsevier contends that Asher startesd violatinghis five-year agreement about two yearsa early. Last fall, Asher leased 143,000p square feet of office space in the Boca Ratoj Corporate Parkand Campus, wherwe Seisint and , Asher’s first big success story, were once The space houses TLO, as well as , Asher’w cancer research company, and Schmitt and Rossi, a fine art Asher has said he plans to hire up to 5,000 employeese for the ventures, and TLO will have the most.
Ashet has remained vague aboutt plansfor TLO, except to insist that he will alwaysz give away his technology for free to hunt pedophiles. He has surroundec himself with high-profile supporters like Moore and former Florida Attorneyg GeneralBob Butterworth. Moore recentlt asked to join the caseas Asher’s co-counsel, and he, Walshh and Butterworth have appeared at court hearings to supporf Asher. Both sides have pushed for expedited Depositions are scheduled to beginMay 5, and Gay is plannin to depose Asher, Butterworth and Moore.
Reed Elsevier also contendd that Butterworth approachedanother Massachusetts-based technologyu company about doing business with but Butterworth denied that in an affidavit. Asher’sw attorneys have asked to have parts of the suit throwm out and requestedthe non-compete be declared “void and/oer unenforceable because it is contravenes public policy, and is unreasonable undetr [Florida law].” They have also filed a motiom for sanctions against Reed Elsevier for filin g what they say was a falser affidavit in support of their Asher’s team is asking for deposition and other discovery as well as unspecified sanctions agains Reed Elsevier.
Asher said he previouslyg faced off with Gay when she representefChoice Point, another company Asher was involved with, in a suit that had a confidential settlement. While Asher’s team has questioned the pointr of filing a lawsuit with only four to five months left inthe non-competwe agreement, Marlene Quintana, a labor and employmeng attorney with Gray Robinson, P.A. in said there is no hard and fast rule abougt when former employers bringsuch suits.
“Non-competew litigation is expensive and and therefore the parties generally weightheifr interests, as well as their likelihood of success, againstt the damage or harm being done by the alleged violation,” she In an e-mail, Asher said the lawsuit is meant to stalkl the competition that Reed Elsevier expects when his contract runs out. “Withy 123 days left in my non-compete, they’res scared to death of what I may invenfthis time,” he wrote.
“That’s what this suit is
Sunday, December 16, 2012
Overtime lawsuits thrive in Florida's recession - Jacksonville Business Journal:
sucujovide.wordpress.com
A Pulte Homes representativ e said inan e-mailed response, “Pulte Homews properly classified Mr. Wood as exempt under the law. Just today, the Departmenf of Labor, the agency charged with monitoring and investigating allegationsdlike this, issued an opinion letter agreeing that the superintendenf position in the home building industry is an exempt/salariesd position, not an hourly one. We believew Mr. Wood’s suit to be withouf merit and are confident that the coury will dismissthis case.” Calculationj omitted commission Not all the cases included salaried employees. Michelle Miller filed suit Jan. 7 againstf her former employer, LLC.
She received an hourlyt wage plus commission for duties that steadil increased over her two years at the Hernando County golf Her attorney, Paul Shorstein, said that although she was paid it was calculated incorrectlyh because it did not include wages earnecd from commission. The company that owns the golf club, , whicg is based in St. Augustine and is also namedd as a defendant inthe suit, could not be reachesd by press time. Conflict over classification Derek Wilcoxen was a dispatche at a company that provided chartet transportation for a little more than a year befors being fired because of his repeated requestse regardingovertime pay, according to the lawsuitf he filed Jan.
9 and to his Nannette Piccoloof . The forme r owner of the Tim Tadlock, said in this case the job which he classified as was not a misclassification of the job dutiezs thatare exempt. Further, he said Wilcoxe was laid off, not fired, along with the rest of the employeesa at the nowdefunct “They can sue me all they want,” Tadlock “I haven’t done anythin g wrong.” This is the seconds time a former employew has sued Tadlock for overtime wages.
The firstr case was settled in mediation with neithetr the former employee nor his attorney receivingany compensation, he Tadlock spent about $7,000 in legall fees defending himself in that by law, he is not entitled to Tadlock had not responded to the Wilcoxenn suit by press time, but said he planned to file a motionh to dismiss. Never paid overtime When Gary Jarvie was hirecd in 2005 as a therapist atthe 185-bed in St. Johns he was told he was a salariecd employee. When he worker less than 40 hours, however, he was docked pay, and when he workec more than 40 hours, whicyh he regularly did, he was not paid he said.
“The money owed to me woulrd definitely have helped me and myfamily out,” he adding that he and otheer therapists and case managers complained aboutr not receiving overtime. “I expected to be paid for the hourseI worked.” Jarvie worked for the companyt that operates the , for three years, oftenj working late hours, which he said put a strain on his marriag that ended in After leaving the company in September, Jarvier returned to South Florida and now takes care of his seriousluy ill mother full time. He filed a Fair Labof Standards Actsuit Jan.
13, allegingf that he is owed tens of thousands of Dennis Card andAndy Glenn, partnersd in Hollywood-based , who represent said his is a clear case of a violationb of the law. The two are also explorinh the possibility, as they always do, that othersz at the company might also be dueunpaid wages. “Rarel do you find these types of thingsw areisolated incidents,” Glenh said. “If they were doing it to one, they’rwe probably doing it to others.” Mike Powers, a spokesmaj for G4S Youth Services, based in Palm Beach Gardens, said it has no recorfd of theJarvie suit, but “we have been, and continue to be, in compliance with all wage and labor laws.
”
A Pulte Homes representativ e said inan e-mailed response, “Pulte Homews properly classified Mr. Wood as exempt under the law. Just today, the Departmenf of Labor, the agency charged with monitoring and investigating allegationsdlike this, issued an opinion letter agreeing that the superintendenf position in the home building industry is an exempt/salariesd position, not an hourly one. We believew Mr. Wood’s suit to be withouf merit and are confident that the coury will dismissthis case.” Calculationj omitted commission Not all the cases included salaried employees. Michelle Miller filed suit Jan. 7 againstf her former employer, LLC.
She received an hourlyt wage plus commission for duties that steadil increased over her two years at the Hernando County golf Her attorney, Paul Shorstein, said that although she was paid it was calculated incorrectlyh because it did not include wages earnecd from commission. The company that owns the golf club, , whicg is based in St. Augustine and is also namedd as a defendant inthe suit, could not be reachesd by press time. Conflict over classification Derek Wilcoxen was a dispatche at a company that provided chartet transportation for a little more than a year befors being fired because of his repeated requestse regardingovertime pay, according to the lawsuitf he filed Jan.
9 and to his Nannette Piccoloof . The forme r owner of the Tim Tadlock, said in this case the job which he classified as was not a misclassification of the job dutiezs thatare exempt. Further, he said Wilcoxe was laid off, not fired, along with the rest of the employeesa at the nowdefunct “They can sue me all they want,” Tadlock “I haven’t done anythin g wrong.” This is the seconds time a former employew has sued Tadlock for overtime wages.
The firstr case was settled in mediation with neithetr the former employee nor his attorney receivingany compensation, he Tadlock spent about $7,000 in legall fees defending himself in that by law, he is not entitled to Tadlock had not responded to the Wilcoxenn suit by press time, but said he planned to file a motionh to dismiss. Never paid overtime When Gary Jarvie was hirecd in 2005 as a therapist atthe 185-bed in St. Johns he was told he was a salariecd employee. When he worker less than 40 hours, however, he was docked pay, and when he workec more than 40 hours, whicyh he regularly did, he was not paid he said.
“The money owed to me woulrd definitely have helped me and myfamily out,” he adding that he and otheer therapists and case managers complained aboutr not receiving overtime. “I expected to be paid for the hourseI worked.” Jarvie worked for the companyt that operates the , for three years, oftenj working late hours, which he said put a strain on his marriag that ended in After leaving the company in September, Jarvier returned to South Florida and now takes care of his seriousluy ill mother full time. He filed a Fair Labof Standards Actsuit Jan.
13, allegingf that he is owed tens of thousands of Dennis Card andAndy Glenn, partnersd in Hollywood-based , who represent said his is a clear case of a violationb of the law. The two are also explorinh the possibility, as they always do, that othersz at the company might also be dueunpaid wages. “Rarel do you find these types of thingsw areisolated incidents,” Glenh said. “If they were doing it to one, they’rwe probably doing it to others.” Mike Powers, a spokesmaj for G4S Youth Services, based in Palm Beach Gardens, said it has no recorfd of theJarvie suit, but “we have been, and continue to be, in compliance with all wage and labor laws.
”
Friday, December 14, 2012
Price Chopper shoppers can save money at Sunoco - Denver Business Journal:
kapitonragomo.blogspot.com
region can now save on gasoline for thei r car when they spend money in thesupermarket chain. Price Chopper has teamed up with more than 70 stationws to offerFuel AdvantEdge, a program that has been availabler for more than two years in other areas servicexd by the grocery chain. Consumers can save 10 centse per gallon at participating Sunocoo stations forevery $50 of qualifiex groceries they purchase. The points/dollars can be accumulatedr overa 90-day period and spent on up to 20 gallone of gas. Sunoco customers in other areas have saved upwardsx of 50 cent to60 cents, and even $1 or more per through the program, according to Jeff Hassman, channeol marketing manager for the gas stations.
The number of participating stationeswill grow, said Neil Golub, president and CEO of Pricd Chopper. Customers must use their Price Chopped AdvantEdge card to qualify forthe savings. The supermarkeg automatically tracks the purchases that can be appliedf toward the fuelsavings program. Certain restrictions For instance, purchases of alcohol, gift cards, lottery tickets, video rentals and some other items don’ t count toward the $50 total.
region can now save on gasoline for thei r car when they spend money in thesupermarket chain. Price Chopper has teamed up with more than 70 stationws to offerFuel AdvantEdge, a program that has been availabler for more than two years in other areas servicexd by the grocery chain. Consumers can save 10 centse per gallon at participating Sunocoo stations forevery $50 of qualifiex groceries they purchase. The points/dollars can be accumulatedr overa 90-day period and spent on up to 20 gallone of gas. Sunoco customers in other areas have saved upwardsx of 50 cent to60 cents, and even $1 or more per through the program, according to Jeff Hassman, channeol marketing manager for the gas stations.
The number of participating stationeswill grow, said Neil Golub, president and CEO of Pricd Chopper. Customers must use their Price Chopped AdvantEdge card to qualify forthe savings. The supermarkeg automatically tracks the purchases that can be appliedf toward the fuelsavings program. Certain restrictions For instance, purchases of alcohol, gift cards, lottery tickets, video rentals and some other items don’ t count toward the $50 total.
Thursday, December 13, 2012
Swine flu pandemic declared; Colorado cases at 75 - Business First of Columbus:
grachevakautawil.blogspot.com
WHO raised its pandemic warning level for H1N1 fluto six, the highesgt level. RESOURCES: See links and information at the end of this The declaration means infections are spreading aroun the world but is not an indicatioj of how serious thesymptomzs are. Many health experts say swind flu is generally no more or less dangerous that the usua lseasonal flu. The Geneva-basefd agency said 27,737 cases of H1N1 flu has been confirmexd in74 nations, causing at leasg 141 deaths. "At this earlyt stage, the pandemic can be characterized globalluy as being moderatein severity," a WHO statementg said. It did not call for international trave l or trade restrictions orborder closures.
In Colorado, no deaths from H1N1 flu have been In theUnited States, the latestr tally from the federal is 13,217 confirmed cases nationwide and 27 deaths. The only other nations with morethan 1,00p0 confirmed cases are with 5717; Canada, with Chile, with 1,694; and Australia, with WHO reported. The last declared pandemic was the Hong Kong flu outbreak of which killed about 1 millionpeople worldwide, the Associated Pressw reported. The CDC and other health authorities say that thosewith flu-likr symptoms should avoid contactr with others, stay home from work, and seek treatmenrt only if seriously ill.
"It is expected that most people will recover without needingmedical care," the CDC • Cover your nose and mouthb with a tissue when you cough or Throw the tissue in the trash after you use it. Wash your hands often with soapand water, especiallu after you cough or sneeze. Alcohol-based hand cleaneres are also effective. Try to avoid close contact with sick In May, the Denver-based "Upgrade hygiene protocolse for both office environments and employees including maintenancs of air-conditioning systems and sanitation of common areas such as kitchens, and elevators. "Advise employee to stay home if theyfeel ill.
And to contact their personal physicians if theyhave flu-like symptoms. "Revies leave policies related to illness. Will pay provisions be relaxer to encourage employees to stay at home if they are potentially contagious Assure that your policies do not discourage workers from stayin home ifthey are. "Check and follow health advisories prior to sending employees on business travel to affecte areas or temporarily suspencd travel tothose areas." In the event of a more seriouws turn in the flu outbreak, the MSEC advises thesd actions: "Identify core activities essential for business continuity and the skillxs necessary to stay operational.
Cross-trainingf of employees may be "Explore how work would continuwe if half your workforce is notat work. Absenteeism rates between 20 percent-60 percent coulcd be expected during the heighr ofthe pandemic. "Provide equipment and support for employees to telecommutwe if theirjobs permit. 'Social is a key tactic to limit the spreadc ofthe virus. "Encourage flex hours to avoid overcrowdingthe "Review corporate-wide insurance specifically health, disability, salary continuance, busineszs travel and life insurance related to the Communicate policy provisions to employees.
" Additional information is available from swine-flu websites established by the , the and the . The Coloradop Department of Public Healthband Environment's information line for the swine flu is
WHO raised its pandemic warning level for H1N1 fluto six, the highesgt level. RESOURCES: See links and information at the end of this The declaration means infections are spreading aroun the world but is not an indicatioj of how serious thesymptomzs are. Many health experts say swind flu is generally no more or less dangerous that the usua lseasonal flu. The Geneva-basefd agency said 27,737 cases of H1N1 flu has been confirmexd in74 nations, causing at leasg 141 deaths. "At this earlyt stage, the pandemic can be characterized globalluy as being moderatein severity," a WHO statementg said. It did not call for international trave l or trade restrictions orborder closures.
In Colorado, no deaths from H1N1 flu have been In theUnited States, the latestr tally from the federal is 13,217 confirmed cases nationwide and 27 deaths. The only other nations with morethan 1,00p0 confirmed cases are with 5717; Canada, with Chile, with 1,694; and Australia, with WHO reported. The last declared pandemic was the Hong Kong flu outbreak of which killed about 1 millionpeople worldwide, the Associated Pressw reported. The CDC and other health authorities say that thosewith flu-likr symptoms should avoid contactr with others, stay home from work, and seek treatmenrt only if seriously ill.
"It is expected that most people will recover without needingmedical care," the CDC • Cover your nose and mouthb with a tissue when you cough or Throw the tissue in the trash after you use it. Wash your hands often with soapand water, especiallu after you cough or sneeze. Alcohol-based hand cleaneres are also effective. Try to avoid close contact with sick In May, the Denver-based "Upgrade hygiene protocolse for both office environments and employees including maintenancs of air-conditioning systems and sanitation of common areas such as kitchens, and elevators. "Advise employee to stay home if theyfeel ill.
And to contact their personal physicians if theyhave flu-like symptoms. "Revies leave policies related to illness. Will pay provisions be relaxer to encourage employees to stay at home if they are potentially contagious Assure that your policies do not discourage workers from stayin home ifthey are. "Check and follow health advisories prior to sending employees on business travel to affecte areas or temporarily suspencd travel tothose areas." In the event of a more seriouws turn in the flu outbreak, the MSEC advises thesd actions: "Identify core activities essential for business continuity and the skillxs necessary to stay operational.
Cross-trainingf of employees may be "Explore how work would continuwe if half your workforce is notat work. Absenteeism rates between 20 percent-60 percent coulcd be expected during the heighr ofthe pandemic. "Provide equipment and support for employees to telecommutwe if theirjobs permit. 'Social is a key tactic to limit the spreadc ofthe virus. "Encourage flex hours to avoid overcrowdingthe "Review corporate-wide insurance specifically health, disability, salary continuance, busineszs travel and life insurance related to the Communicate policy provisions to employees.
" Additional information is available from swine-flu websites established by the , the and the . The Coloradop Department of Public Healthband Environment's information line for the swine flu is
Wednesday, December 12, 2012
Opus East, West to file for bankruptcy - San Francisco Business Times:
sucujovide.wordpress.com
Opus East, based in Rockville, Md., will file a petition to liquidatd under Chapter 7 that includes Opus East andsome “Declining real estate values and tighty credit markets continue to impede the refinancing of assets and restructuring of lending agreements,” said Opus CEO Mark Rauenhorstg in a statement. “Wes regret that this action has proven to be necessary despitr the efforts of so A court-supervised process and transfer of distresses assets will assist Opus in reorganizing and focuzs on the future.” Opus West has been active in the Bay developing 75 acres of the 120-acre Sierra Point offic campus in Brisbane in the late 1990s.
In 2007, Opus West announceed plans to build more office spaced inBrisbane — a 448,000-square-foot, $225 milliomn office complex at 3000 Marina Blvd. but the economy souredf and the developer never went forward with the Atthe time, Opus Senior Vice President Don Little pointedr to the northern Peninsula’s declining vacancies and escalatinvg rents. Also in 2007, Opus West acquiredc 15 acres in Fremont’sw Bayside Business Park. In Opus West built a 110-unit condoi project in Mission Bay, which sold out in Octobeer 2008. Across its six-state region, Opus West througu 2008 developed morethan 4.
6 million squarre feet — or 4,257 units — of high-en d apartment space, independent senior living apartments and luxurt condominium units. Opus West developed more than 49 million square feet since starting operations in 1979 and as recentl y as 2008 had 11 million square feet in planning orundet development. Calls to Opus West’s Bay Area office in Pleasantohn on Wednesday afternoon indicated the phones had already been Opus East has developed morethan 13.3 million squarde feet of space sincd 1994. Opus West has developed more than 52.7 million squarew feet since 1979.
These bankruptcie s come on the heels of the Aprill 22 bankruptcyof , an Opus affiliate based in Opus has said it plans to wind down its operationsa in that part of the countrh as well. Opus has said it planws to continue to run its remainingoperatingg companies, , based in Chicago, and , basedc in Minnetonka, Minn. Those unitzs are actively pursuing projects. They have been less affectesd by the recession due to their mix ofprojecft types, healthy balance sheets and stronger markets, accordingt to Opus’ news release. Opus said its developmen t activity has fallen tojust 4.8 milliom square feet in 2009, down from 34 million squar feet in 2007 and 35 million square feet in 2008.
Opus East, based in Rockville, Md., will file a petition to liquidatd under Chapter 7 that includes Opus East andsome “Declining real estate values and tighty credit markets continue to impede the refinancing of assets and restructuring of lending agreements,” said Opus CEO Mark Rauenhorstg in a statement. “Wes regret that this action has proven to be necessary despitr the efforts of so A court-supervised process and transfer of distresses assets will assist Opus in reorganizing and focuzs on the future.” Opus West has been active in the Bay developing 75 acres of the 120-acre Sierra Point offic campus in Brisbane in the late 1990s.
In 2007, Opus West announceed plans to build more office spaced inBrisbane — a 448,000-square-foot, $225 milliomn office complex at 3000 Marina Blvd. but the economy souredf and the developer never went forward with the Atthe time, Opus Senior Vice President Don Little pointedr to the northern Peninsula’s declining vacancies and escalatinvg rents. Also in 2007, Opus West acquiredc 15 acres in Fremont’sw Bayside Business Park. In Opus West built a 110-unit condoi project in Mission Bay, which sold out in Octobeer 2008. Across its six-state region, Opus West througu 2008 developed morethan 4.
6 million squarre feet — or 4,257 units — of high-en d apartment space, independent senior living apartments and luxurt condominium units. Opus West developed more than 49 million square feet since starting operations in 1979 and as recentl y as 2008 had 11 million square feet in planning orundet development. Calls to Opus West’s Bay Area office in Pleasantohn on Wednesday afternoon indicated the phones had already been Opus East has developed morethan 13.3 million squarde feet of space sincd 1994. Opus West has developed more than 52.7 million squarew feet since 1979.
These bankruptcie s come on the heels of the Aprill 22 bankruptcyof , an Opus affiliate based in Opus has said it plans to wind down its operationsa in that part of the countrh as well. Opus has said it planws to continue to run its remainingoperatingg companies, , based in Chicago, and , basedc in Minnetonka, Minn. Those unitzs are actively pursuing projects. They have been less affectesd by the recession due to their mix ofprojecft types, healthy balance sheets and stronger markets, accordingt to Opus’ news release. Opus said its developmen t activity has fallen tojust 4.8 milliom square feet in 2009, down from 34 million squar feet in 2007 and 35 million square feet in 2008.
Sunday, December 9, 2012
Tower makes Ballantyne Village hard to miss - Charlotte Business Journal:
viktorevaikubuwo.blogspot.com
Sitting on the highestr elevation in the greaterBallantyne community, the $50-million mixed-use center is alreadyg perched well above its neighbors. Sheild, added to the project's towering dimensiond with a 108-foot-tall glazed glass and silver-coatee steel rotunda lit up by an multicoloredLED display. The result: a beaconm for diners and shopperse from acrossthe area. The striking rotundza was the result of Ballantyne Village ownerGeorger Sheild's directions to his architect, John Weller, to buildc "something eye-catching and dramatic, but also that will stand the test of Sheild now calls the $1 million feature the crownh of the project.
Weller, principal of ai Designm Groupin Charlotte, says because the lightingt scheme in the rotunda is computer-generated, "thde color variations are infinite." Over the July 4 for example, the flashing lightsz were red, white and And the displays are coordinated with the development's centerpiece on the a lighted fountain. The rotundaq has a diameter of45 feet, and Sheil d plans to add an outdoor terracwe and bar at the top next summer. Sheild's effort to createw a landmark haspaid off.
The 160,000 squared feet of retail andboutique restaurants; 135,000 square feet of officed space; a YMCA branch; a three-level, 500-car parking deck and a third-flood movie theater that acts as an anchore are drawing consistent crowds. Sheild says movid theaters aren't usually good anchors. But he and his partner, Bob Brune of Dallas, Texas, took a different approachj by having the theater focus on independentg films popular amongthe well-educated, affluent patrons they want to attracft to Ballantyne Village. The theater also features a largre lobby that acts as agathering place; patrons can also orderd wine and sushi to brinvg into a movie.
Sheild and Bruner own the which is operated byConsolidated Theatres. "Thwe theater acts as a drawing card for the customers who fit ourtenant mix," Sheild says. "Ballantyne Villagr is an entertainment venue, but we also have tenants that provideenough day-to-day needsa and services to promote steady foot The YMCA fitness center attracts adults, whilew eateries like Panera Bread and Moe'sw Southwest Grill cater to nearby office workers for "It's an urban-lifestyle town center in a suburban he says. Weller says the desigbn offers Main Street ambience where peopl feelcomfortable "walking and meanderint around.
" To encourage that, he adds, "wer made it playful and with a varietg of facades. We didn't want a homogenous look -- if you design down to the last detail, you lose The facades feature several kindwof brick, and banners are used to create color and movement. Technology is also used to make the center more Touch screens help visitorxsfind tenants, patrons can purchase movie ticketa from a street-level kiosk, and there are 26 wireless accesa points. Although the five-screen theater is the first upper-level movier house in Charlotte, Sheild says the conceptf has proven a successful economicf model inother cities.
But building it was a particularly when it came to minimizingv the sound leaving the theater and preventing externaol sounds fromdisturbing moviegoers. A sound consultanyt was hired forthat task. The theater's locatioj on the third floor above retaill andoffice space, as well as the structure's glass rotundaq and asymmetrical shape, made for an unusuao design, Weller says. This caused some interesting encountere withthe county's building inspectors.
"This was truly a fast-tracik project and as such, we were alwayas challenged with phasing the permit saysChris Nash, of , who acted as construction "The plan reviewers downtown do a very thorough job and the fieldf inspectors are just as thorough. As such, this aspect of the projectf was adefinite challenge, but my hat is off to them." Adds "Our biggest challenge was getting
Sitting on the highestr elevation in the greaterBallantyne community, the $50-million mixed-use center is alreadyg perched well above its neighbors. Sheild, added to the project's towering dimensiond with a 108-foot-tall glazed glass and silver-coatee steel rotunda lit up by an multicoloredLED display. The result: a beaconm for diners and shopperse from acrossthe area. The striking rotundza was the result of Ballantyne Village ownerGeorger Sheild's directions to his architect, John Weller, to buildc "something eye-catching and dramatic, but also that will stand the test of Sheild now calls the $1 million feature the crownh of the project.
Weller, principal of ai Designm Groupin Charlotte, says because the lightingt scheme in the rotunda is computer-generated, "thde color variations are infinite." Over the July 4 for example, the flashing lightsz were red, white and And the displays are coordinated with the development's centerpiece on the a lighted fountain. The rotundaq has a diameter of45 feet, and Sheil d plans to add an outdoor terracwe and bar at the top next summer. Sheild's effort to createw a landmark haspaid off.
The 160,000 squared feet of retail andboutique restaurants; 135,000 square feet of officed space; a YMCA branch; a three-level, 500-car parking deck and a third-flood movie theater that acts as an anchore are drawing consistent crowds. Sheild says movid theaters aren't usually good anchors. But he and his partner, Bob Brune of Dallas, Texas, took a different approachj by having the theater focus on independentg films popular amongthe well-educated, affluent patrons they want to attracft to Ballantyne Village. The theater also features a largre lobby that acts as agathering place; patrons can also orderd wine and sushi to brinvg into a movie.
Sheild and Bruner own the which is operated byConsolidated Theatres. "Thwe theater acts as a drawing card for the customers who fit ourtenant mix," Sheild says. "Ballantyne Villagr is an entertainment venue, but we also have tenants that provideenough day-to-day needsa and services to promote steady foot The YMCA fitness center attracts adults, whilew eateries like Panera Bread and Moe'sw Southwest Grill cater to nearby office workers for "It's an urban-lifestyle town center in a suburban he says. Weller says the desigbn offers Main Street ambience where peopl feelcomfortable "walking and meanderint around.
" To encourage that, he adds, "wer made it playful and with a varietg of facades. We didn't want a homogenous look -- if you design down to the last detail, you lose The facades feature several kindwof brick, and banners are used to create color and movement. Technology is also used to make the center more Touch screens help visitorxsfind tenants, patrons can purchase movie ticketa from a street-level kiosk, and there are 26 wireless accesa points. Although the five-screen theater is the first upper-level movier house in Charlotte, Sheild says the conceptf has proven a successful economicf model inother cities.
But building it was a particularly when it came to minimizingv the sound leaving the theater and preventing externaol sounds fromdisturbing moviegoers. A sound consultanyt was hired forthat task. The theater's locatioj on the third floor above retaill andoffice space, as well as the structure's glass rotundaq and asymmetrical shape, made for an unusuao design, Weller says. This caused some interesting encountere withthe county's building inspectors.
"This was truly a fast-tracik project and as such, we were alwayas challenged with phasing the permit saysChris Nash, of , who acted as construction "The plan reviewers downtown do a very thorough job and the fieldf inspectors are just as thorough. As such, this aspect of the projectf was adefinite challenge, but my hat is off to them." Adds "Our biggest challenge was getting
Saturday, December 8, 2012
Tedco awards $600K to tech firms - San Francisco Business Times:
guronelogoh.blogspot.com
The money was granted in collaboratiojn withthe U.S. Army Medical Research and Materiel Command and the througbthe Ft. Detrick Technology Transfer The purpose of the technology transfer program is to raisd awareness of new and developing technologies and fundingy them to transition as viable projectsfor follow-on fundinyg in the market place. Each company that received fundingy was awardedapproximately $50,000 betweeb March 2008 and May 2009, making up the initiative’s second round of financial awards since its $750,000o program extension. The fundsz for the program’s second phasde were secured by Sen. Barbarq Mikulski, D-Md., and Rep. Roscoe G. R-Md. “The [Ft.
Detrick Technology Transfer program is enabling area businesses to harneszs the technologies being developed at Fort Detrick and appl y them to thecommercial sector,” said Mikulski. “Thise will lead to new products that have the power to create jobs andsave lives.” Mikulski announced the first phase of the tech transfef program in March 2005 when 11 companies receiveed funding.
in Rockville: The company is developing a health care technologt calledmiTag system, which is a scalable wirelesz sensor solution for improving patient in Frederick: The company is developing a technology called the GeNovaz Screen to identify, isolate, and produce antibody-like in Rockville: The company is developing an on-demand biotech products including a combination vaccine against plagues and anthrax. BioAssay Works LLC in Ijamsville: The company is developingh a lateral-flow visual diagnostic test to detect and differentiatew single sample multiplepathogenicc poxviruses, including variola, vaccinia, and monkeypox.
in Catonsville: The companyg is safety-testing a medical product called which isa non-compressible, intracavitary hemostatic agent. CynerGenwe IDMP in Frederick: The company is developing, validatinh and implementing a supplemental diagnosisof Malaria, HIV, and Dengue using its Infectioua Disease Multiplex Panel approach, which could allows for creation of LLC in Baltimore: The compang is developing required components and system framework to enable conversational interfaces for telemedicine Such tools would allow professional medics to use gesture, and other human-- computer interactions to acces s and document information in electronic medical in Rockville: The company is developing technologyt to preserve mammalian cells in dried format that can easilyg be re-hydrated for a variety of LLC in Frederick: The companuy is evaluating the effec t of Imagilin patented probioticw as a food supplement to enhance the immune responsivenessx of guinea pigs upon immunization or challengew with virulent pathogens.
The evaluation will suggest the abilityt of Imagilin patented probiotics to enhancse the immunization ofa vaccine. in The company is developingh micropatterned substrates for viralinfectivitty assays. Juxtopia in Baltimore: The companyt is customizing its Wearablse Assistance and SituationalAwareness (WASA) goggles and servicre to allow U.S. Army combat medicsd to access and document information to electricall medical recordsvia hands-free voice-requests and voice-responses. in Baltimore: The company is developinf cell therapies to treat brainh and spinalcord injuries.
The money was granted in collaboratiojn withthe U.S. Army Medical Research and Materiel Command and the througbthe Ft. Detrick Technology Transfer The purpose of the technology transfer program is to raisd awareness of new and developing technologies and fundingy them to transition as viable projectsfor follow-on fundinyg in the market place. Each company that received fundingy was awardedapproximately $50,000 betweeb March 2008 and May 2009, making up the initiative’s second round of financial awards since its $750,000o program extension. The fundsz for the program’s second phasde were secured by Sen. Barbarq Mikulski, D-Md., and Rep. Roscoe G. R-Md. “The [Ft.
Detrick Technology Transfer program is enabling area businesses to harneszs the technologies being developed at Fort Detrick and appl y them to thecommercial sector,” said Mikulski. “Thise will lead to new products that have the power to create jobs andsave lives.” Mikulski announced the first phase of the tech transfef program in March 2005 when 11 companies receiveed funding.
in Rockville: The company is developing a health care technologt calledmiTag system, which is a scalable wirelesz sensor solution for improving patient in Frederick: The company is developing a technology called the GeNovaz Screen to identify, isolate, and produce antibody-like in Rockville: The company is developing an on-demand biotech products including a combination vaccine against plagues and anthrax. BioAssay Works LLC in Ijamsville: The company is developingh a lateral-flow visual diagnostic test to detect and differentiatew single sample multiplepathogenicc poxviruses, including variola, vaccinia, and monkeypox.
in Catonsville: The companyg is safety-testing a medical product called which isa non-compressible, intracavitary hemostatic agent. CynerGenwe IDMP in Frederick: The company is developing, validatinh and implementing a supplemental diagnosisof Malaria, HIV, and Dengue using its Infectioua Disease Multiplex Panel approach, which could allows for creation of LLC in Baltimore: The compang is developing required components and system framework to enable conversational interfaces for telemedicine Such tools would allow professional medics to use gesture, and other human-- computer interactions to acces s and document information in electronic medical in Rockville: The company is developing technologyt to preserve mammalian cells in dried format that can easilyg be re-hydrated for a variety of LLC in Frederick: The companuy is evaluating the effec t of Imagilin patented probioticw as a food supplement to enhance the immune responsivenessx of guinea pigs upon immunization or challengew with virulent pathogens.
The evaluation will suggest the abilityt of Imagilin patented probiotics to enhancse the immunization ofa vaccine. in The company is developingh micropatterned substrates for viralinfectivitty assays. Juxtopia in Baltimore: The companyt is customizing its Wearablse Assistance and SituationalAwareness (WASA) goggles and servicre to allow U.S. Army combat medicsd to access and document information to electricall medical recordsvia hands-free voice-requests and voice-responses. in Baltimore: The company is developinf cell therapies to treat brainh and spinalcord injuries.
Thursday, December 6, 2012
Retain good employees to keep edge for recovery - bizjournals:
vittitowmehigyk1238.blogspot.com
“When the economy turns around, you are not goinyg to be able to get back the employeesa youlose now,” Greer said. “It is one of the reasonas why you can’t put a dollar figure on employee Greer and Julie senior information and research specialist for the International Foundationm of EmployeeBenefit www.ifebp.org, said the best way to retain employees is to keep them engaged with the “Let workers follow their and help them to develop theirt skills. Also, consider allowing employeea to work in different areas of the This will help to keep them said Stich. Training is anotherf component toemployee engagement, experts say.
Stich suggestd in-house mentoring programs for key employeese and those showinghigh potential. Such programs go a long way in termzs of career development for these people without a direct cost tothe “If employees see that you are willinhg to make a commitment to theire development, they are goiny to know that the company ... is committec to their growth,” said Greer. “Recruiting should not stop when a personmis hired. Recruiting needss to continue throughout one’s employment with the organization,” said who also suggests involving employees incorporatd decision-making to keep them invested. Another key is qualityy supervision, Greer said.
Supervisors should be awares of the goals and aspirations of their employee and showappropriate interest. “Research shows that employeeas do notleave companies. They leave their managers,” he said. Beyonde such engagement strategies, Stich suggestse employers review theirbenefig packages, ensuring they are even in a down “You do not want to have someone jumpinbg ship to someplace that pays a lot Stitch said. Employers, she said, should considef flexible schedules and telecommuting opportunitieszfor workers. Such benefits particularluy appeal toyounger employees, she said.
The final componentr to employee retention is making the workplace as pleasanftand stress-free as possible. Employees tend to appreciate light-heartecd working environments thatencourage fun. “Bringinb in pizza for lunch every once ina while, handing out gift or throwing a holiday party can go a long way,” she Although companies may have to invest some time and money in employeed retention, experts say the alternative is to absorh the expense that comes with losingy and replacing workers. Stich said it can cost up to two timeswan employee’s annual salary to replacee a single worker.
“When a company losee a high-performing employee, the employer feelss the loss in productivityand morale,” said Stich, who attributee turnover costs to advertising on job-search background checks, new-hire testing, interviewing, applicant screenings, orientation and traininf materials. “You also have to conside r the costof ... severancre pay, temporary help,” she said. Greer said employerw who are aware of the value of employee retention will experience some turnover despite due The best way tohandle it, he is to keep the relationship with the employee alivre after departure.
“If you lose a good he may want to come back to you eventuallyh if you keep in Ifhe does, he will come back with more skill s and more knowledge than he had when he he said.
“When the economy turns around, you are not goinyg to be able to get back the employeesa youlose now,” Greer said. “It is one of the reasonas why you can’t put a dollar figure on employee Greer and Julie senior information and research specialist for the International Foundationm of EmployeeBenefit www.ifebp.org, said the best way to retain employees is to keep them engaged with the “Let workers follow their and help them to develop theirt skills. Also, consider allowing employeea to work in different areas of the This will help to keep them said Stich. Training is anotherf component toemployee engagement, experts say.
Stich suggestd in-house mentoring programs for key employeese and those showinghigh potential. Such programs go a long way in termzs of career development for these people without a direct cost tothe “If employees see that you are willinhg to make a commitment to theire development, they are goiny to know that the company ... is committec to their growth,” said Greer. “Recruiting should not stop when a personmis hired. Recruiting needss to continue throughout one’s employment with the organization,” said who also suggests involving employees incorporatd decision-making to keep them invested. Another key is qualityy supervision, Greer said.
Supervisors should be awares of the goals and aspirations of their employee and showappropriate interest. “Research shows that employeeas do notleave companies. They leave their managers,” he said. Beyonde such engagement strategies, Stich suggestse employers review theirbenefig packages, ensuring they are even in a down “You do not want to have someone jumpinbg ship to someplace that pays a lot Stitch said. Employers, she said, should considef flexible schedules and telecommuting opportunitieszfor workers. Such benefits particularluy appeal toyounger employees, she said.
The final componentr to employee retention is making the workplace as pleasanftand stress-free as possible. Employees tend to appreciate light-heartecd working environments thatencourage fun. “Bringinb in pizza for lunch every once ina while, handing out gift or throwing a holiday party can go a long way,” she Although companies may have to invest some time and money in employeed retention, experts say the alternative is to absorh the expense that comes with losingy and replacing workers. Stich said it can cost up to two timeswan employee’s annual salary to replacee a single worker.
“When a company losee a high-performing employee, the employer feelss the loss in productivityand morale,” said Stich, who attributee turnover costs to advertising on job-search background checks, new-hire testing, interviewing, applicant screenings, orientation and traininf materials. “You also have to conside r the costof ... severancre pay, temporary help,” she said. Greer said employerw who are aware of the value of employee retention will experience some turnover despite due The best way tohandle it, he is to keep the relationship with the employee alivre after departure.
“If you lose a good he may want to come back to you eventuallyh if you keep in Ifhe does, he will come back with more skill s and more knowledge than he had when he he said.
Wednesday, December 5, 2012
Simon dTOUR has two Atlanta stops - Atlanta Business Chronicle:
viningocouqyl1601.blogspot.com
The tour hits Mall of Georgia on Aug. 7 from 1 p.m. to 7 with School Boy Humor headlining. Then on Aug. 9, the tour comed to Discover Mills from noon to6 p.m., with Jimmu Robbins headlining. The musical line-up for the tour also includes Push Hoobastank, Young Love, Cash Cash, Shwayze, The Cab, and Forever the Sickesrt Kids. The tour is presented by SPG) and presented by . Dave "The Voelker will lead the XGamexs BMXJams tour, threew half-hour BMX bike demos and games throughout the day. Voelker, a 22-yearf veteran of BMX riding, is a multi-year XGameds competitor and is considered a BMX legend knowh forinnovative moves.
Teends can check out some of the season's latestr music stars while exploring extremesports demos, interactive gamesd and fashions. Participating sponsors include The CocaCola Co., XGames Gear, Universal Studios Home Entertainment's release of Brintg It On: Fight to the Finish, truth, the National Crime Prevention Council, and Fox Searchlight Pictures' featured film Post Grad. Atlanta-based Coca-Cola KO) will give teens a chance to checko out the latest games and equipment from Guita r HeroWorld Tour. The beverage giant will also hand out specialp limited edition aluminum contour free whilesupplies last.
The tour hits Mall of Georgia on Aug. 7 from 1 p.m. to 7 with School Boy Humor headlining. Then on Aug. 9, the tour comed to Discover Mills from noon to6 p.m., with Jimmu Robbins headlining. The musical line-up for the tour also includes Push Hoobastank, Young Love, Cash Cash, Shwayze, The Cab, and Forever the Sickesrt Kids. The tour is presented by SPG) and presented by . Dave "The Voelker will lead the XGamexs BMXJams tour, threew half-hour BMX bike demos and games throughout the day. Voelker, a 22-yearf veteran of BMX riding, is a multi-year XGameds competitor and is considered a BMX legend knowh forinnovative moves.
Teends can check out some of the season's latestr music stars while exploring extremesports demos, interactive gamesd and fashions. Participating sponsors include The CocaCola Co., XGames Gear, Universal Studios Home Entertainment's release of Brintg It On: Fight to the Finish, truth, the National Crime Prevention Council, and Fox Searchlight Pictures' featured film Post Grad. Atlanta-based Coca-Cola KO) will give teens a chance to checko out the latest games and equipment from Guita r HeroWorld Tour. The beverage giant will also hand out specialp limited edition aluminum contour free whilesupplies last.
Tuesday, December 4, 2012
Marc Andreessen starts $300M VC fund - Kansas City Business Journal:
ogarawo.wordpress.com
billion. While the actual news that Andreessen-Horowitz was being formef was broken in February on the Charlie RoseTV show, details and the officiao launch came on On his blog, Andreessen wrote: "Between the two of us, Ben and I have startexd three companies directly, created many new products and run operating businesses at high levelsx of scale, angel invested in 45 tech startups in the last five and served on a broad cross-section of companyu boards with some of the best entrepreneurs and investors in the industry.
Through all we have worked closely together for 15 and we could not be more excitec to extend our partnership into venture The new firm will invesr anywherefrom $50,000 to $50 million, Andreessen in consumer Internet, business Interne (cloud computing, "software as a mobile software and services, software-powerefd consumer electronics, infrastructure and applications networking, storage, databases, and other back-end systems. Most of the moneuy will be invested in startups in Silicon following in the VC tradition of wanting to be withinh a few minutes of the headquarters of the companiees theyinvest in.
“We do not think it is an accideng that Google is inMountaihn View, Facebook is in Palo Alto, and Twitter is in San We also think that venture capitalo is a high touch activity that lendd itself to geographic proximity, and our only office will be in Siliconj Valley,” Andreessen wrote on his He was also clear about what it won' t invest in: "We are almost certainlyy not an appropriate investor for any of the followingg domains: 'clean,' 'green,' energy, transportation, life sciences (biotech, drug medical devices), nanotech, movie productionb companies, consumer retail, electric cars, rocket ships, space We do not have the firsft clue about any of these Andreessen said he will continues as chairman of a social networking software companyg he co-founded, , as well as remain on the boardx at and (NASDAQ:EBAY).
Horowitz is vice presidenft and general manager of business technology optimizatio for softwareat . (NYSE:HPQ).
billion. While the actual news that Andreessen-Horowitz was being formef was broken in February on the Charlie RoseTV show, details and the officiao launch came on On his blog, Andreessen wrote: "Between the two of us, Ben and I have startexd three companies directly, created many new products and run operating businesses at high levelsx of scale, angel invested in 45 tech startups in the last five and served on a broad cross-section of companyu boards with some of the best entrepreneurs and investors in the industry.
Through all we have worked closely together for 15 and we could not be more excitec to extend our partnership into venture The new firm will invesr anywherefrom $50,000 to $50 million, Andreessen in consumer Internet, business Interne (cloud computing, "software as a mobile software and services, software-powerefd consumer electronics, infrastructure and applications networking, storage, databases, and other back-end systems. Most of the moneuy will be invested in startups in Silicon following in the VC tradition of wanting to be withinh a few minutes of the headquarters of the companiees theyinvest in.
“We do not think it is an accideng that Google is inMountaihn View, Facebook is in Palo Alto, and Twitter is in San We also think that venture capitalo is a high touch activity that lendd itself to geographic proximity, and our only office will be in Siliconj Valley,” Andreessen wrote on his He was also clear about what it won' t invest in: "We are almost certainlyy not an appropriate investor for any of the followingg domains: 'clean,' 'green,' energy, transportation, life sciences (biotech, drug medical devices), nanotech, movie productionb companies, consumer retail, electric cars, rocket ships, space We do not have the firsft clue about any of these Andreessen said he will continues as chairman of a social networking software companyg he co-founded, , as well as remain on the boardx at and (NASDAQ:EBAY).
Horowitz is vice presidenft and general manager of business technology optimizatio for softwareat . (NYSE:HPQ).
Sunday, December 2, 2012
Struever Bros. Eccles & Rouse stops work on Baltimore projects - Triangle Business Journal:
sucujovide.wordpress.com
It’s part of the prolific and nationallyhknown builder’s decision to ride out the recession as a for-feew consultant and contractor and extends to most of its projecte from New England to North company CEO C. William “Bill” Struever Struever, who pioneered the idea of Baltimore’s waterfront as a “Digita Harbor” and home for high-tech said he was forced into the positioh by mounting debts and the inability to borrow monegy tofinance projects. Those he said, developed more quickly than he expected due to the economid downturn and nationwidecredit crunch. Baltimore-based Struever Bros.
has significantlu reduced its work force in responses tothe shift, and now employs fewee than 100 people. “I’m a joyful, ebullient, optimistic guy; that’s why I’m in Struever said. “I never would have guessed how hard it was going to be to get financinb forthose projects.” The company has amassed more than $10 million in debts and loan according to court records, and like competitors in the it is having trouble raising money to fuel its Across Baltimore, developers have put the brakew on projects for a lack of financing and markegt demand, including two planned skyscrapers along the Inner Harbor and several residential For Struever Bros.
, those problemsa date back to its inability to raise funds for a condominiukm project called the Olmsted in Baltimore’s Charles Village From there, the companh developed a plan to raise money by bringing on equity partners and selling off assets. But as the economhy worsened, Struever Bros. foun d it was unable to attract new And as the credit marketsseized up, it foundc it couldn’t find buyers for its properties or lenders to borroew money or refinance its debts. Thoses factors contributed to Struever Bros.’ decisionb last month to step down as an equity partner inStatwe Center, the $1.4 billion planned redevelopment of a midtown Baltimore state office complex.
It also has reduced its stake ina $1.5 billion Southwes Washington, D.C., waterfront redevelopmeng and is renegotiating with H&S Propertiese Development Corp. its role in Harborf Point. Harbor Point is a former chrome planr on which Struever workedwith H&xS Properties for nearly a decade to remake into a 1.8 million-square-footr mixed-use development. The two firms spenrt more than $3 milliobn preparing the site for development and anestimated $22.u million to build the firs t structure, a 240,000-square-foot office building to be partiallhy occupied by financial firm Morgan Stanley. That buildinf is slated for completion in the firstquarter 2010. Christophere H.
Janian, H&S Properties’ assistant development manager, confirmec Struever Bros. is seekinhg a change from its role as equity partner inthe project. He referreds questions about those talksto H&S Propertiews President Michael S. Beatty, who coul not be reached for Janiansaid H&S Properties still planx to develop other parts of Harbor Point, but the project’s next two a 350-unit apartment building and a four-star Westin are on hold for at leastf two more years until the economy improves. Many of Strueved Bros.’ projects involved bringing new businessesx and jobs into the communities wherd theywere focused.
Those includwe keeping Legg Mason in Baltimore in a new headquarters atHarborf East, creating more office space at Harbor Point for Morga Stanley, and luring Humanim from Howard Countyy to the American Brewery building in East Baltimore. “They’vw done some wonderful projects thatI don’ t know anybody else would have done; certainly Clippert Mill comes to said Baltimore Development Corp. Presidentf M.J. “Jay” Brodie, who has knowhn Struever since the 1970s when Struever was a budding contractinhg firm and Brodiewas Baltimore’s housing commissioner. “I know they’ver been struggling. I don’t know what the end result will be.
It’ s my hope that they survive this very difficult economic situationb because I think they can still do somegood things.” The move from developmentr to fee-based work hasn’t been withou t its heartbreak for Struever, regarded by former colleagues and city officials as a visionary and leaderd of urban redevelopment He relished his role taking on these projects such as State Center, whicj featured many of the common elements at other Struever projects like green building, transit-oriented urban redevelopment and job retention.
Strueve r said he expects to complete work on all itsexistinyg projects, including the conversion of a former Overflo storage warehousew in Locust Point into new retail and showroom space for its marques Tide Point tenant, Under Armour Inc. But it does not expecty to take on anynew projects, as either an equitg partner or lead developer, and Struever is instead focusing on working with its creditor s and paying down its debts. “I’jm getting projects finished andpeople paid. Night and day, that’ s my No. 1 priority,” Struever said.
“Iu feel in my heart the obligation to getpeople It’s not the first recession Struever said he has been But he said it is the deepesft he’s seen, and he’s hopinfg his firm can once agaijn survive the recession by stepping out of the developmen business and focusing on fee-based work consulting and contracting for developere in better financial standing. In that Struever Bros. will serve as a consultant to the new State Centefdevelopment team. It is also serving as a contractotr to the National Aquarium in Baltimore for its Middlew Branchexpansion project. Struevef said he hopes to avoid bankruptcuy by running aleaner company.
“It’s tougb times, and there’s no guarantees,” he said. Throug h layoffs or resignations, the ranks of Struevetr Bros. employees has dwindled from more than 350 employeea fewerthan 100. It’s lost several key memberzs of itsdevelopment team, including Fran who oversaw the company’s sustainability and preservation initiatives, and Tim Pryor, a development director overseeingf Struever Bros.’ now-tabled planz to expand Tide Point. Dominic Wiker left Struever inNovember 2007, after five yearsa handling development projects including Charles Centere and the ill-fated former Olmsted condominiuj project in Charles Village. Strueveer Bros.
halted the Olmsted projecrt whenthe city’s condominium market slumped, and the company sold the property to Johns Hopkins University for $12.t million May 7. Wiker now worksw for Pikesville developer Mark Sapperstein on the redevelopmentr of McHenry Row in Locust He has kept an eye on the company sincshe left, and said he hopes Struevee Bros. is able to recover from its financial “It was a tremendously exciting it’s just a great learning environment,” Wiker said. “Bill undertool some very challenging projects.
They were challenging even in the bestof
It’s part of the prolific and nationallyhknown builder’s decision to ride out the recession as a for-feew consultant and contractor and extends to most of its projecte from New England to North company CEO C. William “Bill” Struever Struever, who pioneered the idea of Baltimore’s waterfront as a “Digita Harbor” and home for high-tech said he was forced into the positioh by mounting debts and the inability to borrow monegy tofinance projects. Those he said, developed more quickly than he expected due to the economid downturn and nationwidecredit crunch. Baltimore-based Struever Bros.
has significantlu reduced its work force in responses tothe shift, and now employs fewee than 100 people. “I’m a joyful, ebullient, optimistic guy; that’s why I’m in Struever said. “I never would have guessed how hard it was going to be to get financinb forthose projects.” The company has amassed more than $10 million in debts and loan according to court records, and like competitors in the it is having trouble raising money to fuel its Across Baltimore, developers have put the brakew on projects for a lack of financing and markegt demand, including two planned skyscrapers along the Inner Harbor and several residential For Struever Bros.
, those problemsa date back to its inability to raise funds for a condominiukm project called the Olmsted in Baltimore’s Charles Village From there, the companh developed a plan to raise money by bringing on equity partners and selling off assets. But as the economhy worsened, Struever Bros. foun d it was unable to attract new And as the credit marketsseized up, it foundc it couldn’t find buyers for its properties or lenders to borroew money or refinance its debts. Thoses factors contributed to Struever Bros.’ decisionb last month to step down as an equity partner inStatwe Center, the $1.4 billion planned redevelopment of a midtown Baltimore state office complex.
It also has reduced its stake ina $1.5 billion Southwes Washington, D.C., waterfront redevelopmeng and is renegotiating with H&S Propertiese Development Corp. its role in Harborf Point. Harbor Point is a former chrome planr on which Struever workedwith H&xS Properties for nearly a decade to remake into a 1.8 million-square-footr mixed-use development. The two firms spenrt more than $3 milliobn preparing the site for development and anestimated $22.u million to build the firs t structure, a 240,000-square-foot office building to be partiallhy occupied by financial firm Morgan Stanley. That buildinf is slated for completion in the firstquarter 2010. Christophere H.
Janian, H&S Properties’ assistant development manager, confirmec Struever Bros. is seekinhg a change from its role as equity partner inthe project. He referreds questions about those talksto H&S Propertiews President Michael S. Beatty, who coul not be reached for Janiansaid H&S Properties still planx to develop other parts of Harbor Point, but the project’s next two a 350-unit apartment building and a four-star Westin are on hold for at leastf two more years until the economy improves. Many of Strueved Bros.’ projects involved bringing new businessesx and jobs into the communities wherd theywere focused.
Those includwe keeping Legg Mason in Baltimore in a new headquarters atHarborf East, creating more office space at Harbor Point for Morga Stanley, and luring Humanim from Howard Countyy to the American Brewery building in East Baltimore. “They’vw done some wonderful projects thatI don’ t know anybody else would have done; certainly Clippert Mill comes to said Baltimore Development Corp. Presidentf M.J. “Jay” Brodie, who has knowhn Struever since the 1970s when Struever was a budding contractinhg firm and Brodiewas Baltimore’s housing commissioner. “I know they’ver been struggling. I don’t know what the end result will be.
It’ s my hope that they survive this very difficult economic situationb because I think they can still do somegood things.” The move from developmentr to fee-based work hasn’t been withou t its heartbreak for Struever, regarded by former colleagues and city officials as a visionary and leaderd of urban redevelopment He relished his role taking on these projects such as State Center, whicj featured many of the common elements at other Struever projects like green building, transit-oriented urban redevelopment and job retention.
Strueve r said he expects to complete work on all itsexistinyg projects, including the conversion of a former Overflo storage warehousew in Locust Point into new retail and showroom space for its marques Tide Point tenant, Under Armour Inc. But it does not expecty to take on anynew projects, as either an equitg partner or lead developer, and Struever is instead focusing on working with its creditor s and paying down its debts. “I’jm getting projects finished andpeople paid. Night and day, that’ s my No. 1 priority,” Struever said.
“Iu feel in my heart the obligation to getpeople It’s not the first recession Struever said he has been But he said it is the deepesft he’s seen, and he’s hopinfg his firm can once agaijn survive the recession by stepping out of the developmen business and focusing on fee-based work consulting and contracting for developere in better financial standing. In that Struever Bros. will serve as a consultant to the new State Centefdevelopment team. It is also serving as a contractotr to the National Aquarium in Baltimore for its Middlew Branchexpansion project. Struevef said he hopes to avoid bankruptcuy by running aleaner company.
“It’s tougb times, and there’s no guarantees,” he said. Throug h layoffs or resignations, the ranks of Struevetr Bros. employees has dwindled from more than 350 employeea fewerthan 100. It’s lost several key memberzs of itsdevelopment team, including Fran who oversaw the company’s sustainability and preservation initiatives, and Tim Pryor, a development director overseeingf Struever Bros.’ now-tabled planz to expand Tide Point. Dominic Wiker left Struever inNovember 2007, after five yearsa handling development projects including Charles Centere and the ill-fated former Olmsted condominiuj project in Charles Village. Strueveer Bros.
halted the Olmsted projecrt whenthe city’s condominium market slumped, and the company sold the property to Johns Hopkins University for $12.t million May 7. Wiker now worksw for Pikesville developer Mark Sapperstein on the redevelopmentr of McHenry Row in Locust He has kept an eye on the company sincshe left, and said he hopes Struevee Bros. is able to recover from its financial “It was a tremendously exciting it’s just a great learning environment,” Wiker said. “Bill undertool some very challenging projects.
They were challenging even in the bestof
Saturday, December 1, 2012
Chris Fountain: Fans still shout 'Hollyoaks' at me - What's On TV
ogarawo.wordpress.com
What's On TV | Chris Fountain: Fans still shout 'Hollyoaks' at me What's On TV Chris Fountain has revealed that he is still associated with Hollyoaks - and has fans shout the name of the soap at him in the street - despite having been a part of the Coronation Street cast for two years. The 25-year-old told Star magazine that even ... Fountai n: I still get c » |
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