Friday, August 10, 2012
Adult video company turns attention to TV - Denver Business Journal:
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Wednesday, August 8, 2012
Advanta agrees to refund customers up to $35M in FDIC agreements - New Mexico Business Weekly:
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That agreement addresses charges that theSpring Pa.-based company violated federal trade laws throughh its pricing strategies on business crediyt cards, and in its marketing of cash-back rewardss on the cards. Advanta said it did not admi t wrongdoing and that it entered theagreements “ib the interest of expediency and to avoicd litigation.” Advanta said it took a $14 million charg to cover refunds tied to the alleged marketing violations in third-quarter 2008 and will take a second-quarter 2009 charges to cover refunds over its pricing which it said could total $21 million. Advantaa also agreed to a $150,000 fine.
In a separater agreement with the FDIC, Advanta’s ability to use cash and pay dividendw hasbeen restricted. The company must submit a plan toremainn "well-capitalized," and submit a plan to terminatr its deposit-taking operations and deposit insurancr once its deposits are repaid in full, a procesx expected to take a few years. The secon agreement with the FDIC places restrictionseon Advanta’s use of its cash payment of dividends and transactions that wouldx materially alter its balance sheet compositiobn and taking of brokered deposits.
Advanta said the second order does not in any way restrict it from continuintg to service itsmanaged credit-cards accounts and receivables. In an effort to limi losses and erosion of its capital ascreditf deteriorates, Advanta said in early May that its securitization trusgt will go into early amortization where the company uses receivables from customers to accelerate paymeny to investor bondholders. While that protects investors from prolonged exposure to a pool of receivables whose credit performance has Advanta would have needed an alternative way to fund new purchasesw onits customers’ credit cards. So it had to shut down futurse use, effective May 30.
It has since referred some customerss to AmericanExpress Co. Advanta’s stockj closed 2 7 percentt lower Wednesday at42
That agreement addresses charges that theSpring Pa.-based company violated federal trade laws throughh its pricing strategies on business crediyt cards, and in its marketing of cash-back rewardss on the cards. Advanta said it did not admi t wrongdoing and that it entered theagreements “ib the interest of expediency and to avoicd litigation.” Advanta said it took a $14 million charg to cover refunds tied to the alleged marketing violations in third-quarter 2008 and will take a second-quarter 2009 charges to cover refunds over its pricing which it said could total $21 million. Advantaa also agreed to a $150,000 fine.
In a separater agreement with the FDIC, Advanta’s ability to use cash and pay dividendw hasbeen restricted. The company must submit a plan toremainn "well-capitalized," and submit a plan to terminatr its deposit-taking operations and deposit insurancr once its deposits are repaid in full, a procesx expected to take a few years. The secon agreement with the FDIC places restrictionseon Advanta’s use of its cash payment of dividends and transactions that wouldx materially alter its balance sheet compositiobn and taking of brokered deposits.
Advanta said the second order does not in any way restrict it from continuintg to service itsmanaged credit-cards accounts and receivables. In an effort to limi losses and erosion of its capital ascreditf deteriorates, Advanta said in early May that its securitization trusgt will go into early amortization where the company uses receivables from customers to accelerate paymeny to investor bondholders. While that protects investors from prolonged exposure to a pool of receivables whose credit performance has Advanta would have needed an alternative way to fund new purchasesw onits customers’ credit cards. So it had to shut down futurse use, effective May 30.
It has since referred some customerss to AmericanExpress Co. Advanta’s stockj closed 2 7 percentt lower Wednesday at42
Tuesday, August 7, 2012
Yes! Solar sells Colorado, Montana franchises - Minneapolis / St. Paul Business Journal:
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and Bozeman, Mont., the company announcedf Wednesday. The two territories extend the company’sa franchise network to about 95,000 more homeownerss and many small businesses. Founded in Solar Power (OTCBB: SOPW) works with clients to obtaihn permits and manage the installation of solart power systems in smalland medium-sized businesses. The company also manufacturess or procures all the parts and pieces to make thesystemss work. In addition, Solar Power installs home solar systemsthroughn Yes! Solar Solutions. Yes! has a store in three franchises in the San Francisco Bay and a handful of franchiseesin Cary, Helena, Mon.
, and Pueblo, The latest franchisees in Pueblko and Bozeman are set to begin operationss in June. “We look forwarsd to serving the home and busines owners within our expanding reach with our solar energy systen solutions and a growing number of solarproducf innovations,” said Jeff Pontius, executive vice presidentr for Yes! Solar Inc., in a news
and Bozeman, Mont., the company announcedf Wednesday. The two territories extend the company’sa franchise network to about 95,000 more homeownerss and many small businesses. Founded in Solar Power (OTCBB: SOPW) works with clients to obtaihn permits and manage the installation of solart power systems in smalland medium-sized businesses. The company also manufacturess or procures all the parts and pieces to make thesystemss work. In addition, Solar Power installs home solar systemsthroughn Yes! Solar Solutions. Yes! has a store in three franchises in the San Francisco Bay and a handful of franchiseesin Cary, Helena, Mon.
, and Pueblo, The latest franchisees in Pueblko and Bozeman are set to begin operationss in June. “We look forwarsd to serving the home and busines owners within our expanding reach with our solar energy systen solutions and a growing number of solarproducf innovations,” said Jeff Pontius, executive vice presidentr for Yes! Solar Inc., in a news
Monday, August 6, 2012
Human Genome Sciences submits ABthrax to FDA - Washington Business Journal:
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On Thursday, Human Genome Sciences HGSI) announced it had submitted a Biologic License Application to the FDA for its humanj monoclonal antibodydrug ABthrax, also known as for the treatment of inhalation Human Genome Sciences said the submission showedx a survival benefit in studies of rabbitsw and monkeys and the results of safetu studies conducted in healthy human volunteers. “Based on the resultws of our efficacy andsafety studies, we believ e raxibacumab has the potential to be an importantg new treatment for inhalation anthrax," said Human Genomee Sciences Senior Vice President Sally The U.S.
government has already reached that In thefirst quarter, Human Genome Sciencews initiated delivery of 20,000 doses of raxibacumag to the U.S. Strategic National Stockpil for emergency use in the treatment ofinhalatioj anthrax, generating $127.8 million in product sales. Raxibacumab was developed under a contract enteresd into in 2006 with the Biomedical Advancef Research and Development Authority of the Office of the Assistan Secretary for Preparedness and Response ofthe U.S. Departmenty of Health and Human Services. Raxibacumab is the firsr product that Human Genome Sciencesa has submitted for a BiologicsLicense Application.
If it would mean a $10 milliohn milestone payment for Human Genome Sciences under termws of theHHS
On Thursday, Human Genome Sciences HGSI) announced it had submitted a Biologic License Application to the FDA for its humanj monoclonal antibodydrug ABthrax, also known as for the treatment of inhalation Human Genome Sciences said the submission showedx a survival benefit in studies of rabbitsw and monkeys and the results of safetu studies conducted in healthy human volunteers. “Based on the resultws of our efficacy andsafety studies, we believ e raxibacumab has the potential to be an importantg new treatment for inhalation anthrax," said Human Genomee Sciences Senior Vice President Sally The U.S.
government has already reached that In thefirst quarter, Human Genome Sciencews initiated delivery of 20,000 doses of raxibacumag to the U.S. Strategic National Stockpil for emergency use in the treatment ofinhalatioj anthrax, generating $127.8 million in product sales. Raxibacumab was developed under a contract enteresd into in 2006 with the Biomedical Advancef Research and Development Authority of the Office of the Assistan Secretary for Preparedness and Response ofthe U.S. Departmenty of Health and Human Services. Raxibacumab is the firsr product that Human Genome Sciencesa has submitted for a BiologicsLicense Application.
If it would mean a $10 milliohn milestone payment for Human Genome Sciences under termws of theHHS
Saturday, August 4, 2012
NTS buys Plainview Apartments - Jacksonville Business Journal:
acklinegymejac1362.blogspot.com
Financing for the purchase, which was made through an NTS , was provided by the , accordingg to a news release. The purchase price was not The previous owner was PlainviewApartments LP, a Denver-based investment partnership, according to online recordws from the Jefferson Countty Property Valuation Administrator and the Kentucky Secretarhy of State. Its assessed value for tax purposeswis $9.7 million, according to the PVA Web Occupancy at the time of the purchase was abou 94 percent, the release said.
NTS plansw to enhance and renovate the property but no details were disclosed in the The apartment complex was developed as part of the Plainvieplanned community, which includes 800 single-family more than 1,000 500 town homes, multiple shopping centere and nearly 2 million square feet of office space. NTS began construction and development of theplanned community, Louisville’zs first, in the early 1970s. With the NTS Development Co. and its affiliates now own four apartmen t communitiesin Louisville. Its othed holdings in the area are HurstbourneGranfd Apartments, The Overlook at St. Thomas and The Willow s of Plainview.
NTS also manages 14 otherd apartment communities and 31 commercial properties with more than 5 millio feetof office, retail and warehouse space in the Southeast.
Financing for the purchase, which was made through an NTS , was provided by the , accordingg to a news release. The purchase price was not The previous owner was PlainviewApartments LP, a Denver-based investment partnership, according to online recordws from the Jefferson Countty Property Valuation Administrator and the Kentucky Secretarhy of State. Its assessed value for tax purposeswis $9.7 million, according to the PVA Web Occupancy at the time of the purchase was abou 94 percent, the release said.
NTS plansw to enhance and renovate the property but no details were disclosed in the The apartment complex was developed as part of the Plainvieplanned community, which includes 800 single-family more than 1,000 500 town homes, multiple shopping centere and nearly 2 million square feet of office space. NTS began construction and development of theplanned community, Louisville’zs first, in the early 1970s. With the NTS Development Co. and its affiliates now own four apartmen t communitiesin Louisville. Its othed holdings in the area are HurstbourneGranfd Apartments, The Overlook at St. Thomas and The Willow s of Plainview.
NTS also manages 14 otherd apartment communities and 31 commercial properties with more than 5 millio feetof office, retail and warehouse space in the Southeast.
Friday, August 3, 2012
Wachovia exec says no changes for foundation - Atlanta Business Chronicle:
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gave out $96.9 million in contributions in 2007 and had assetwsof $314.5 million, according to its most recent tax “I don’t think the merger in and of itselfr will have any effecf at all,” said Jerome Byers, Atlanta regionak president for retail banking. “Our point of view from Well Fargo and Wachovia is to rely on local We won’t change through the Byers said that the foundation made grants to more than 400 nonprofite in metro Atlanta last year. It has pledged $1 milliohn for the construction of the Center for Civil and Human Rights and is committed to give a totaklof $500,000 to the through 2015.
Some grantsx through Wachovia’s matching gifts program were as smalkas $25 in 2008. Byers said he has had conversatione with his superiors to addressthe “Wachovia has a foundation here in Atlanta and we will make the decisionsa and honor our commitments,” Byers In an April 8 press release, Wells Fargo reported that it increased its philanthropic giving by 5 percent to $226 millio despite the downturn in the Most of the foundation’s donations are controlled locally and Byers said that in that regar Wells Fargo’s philosophy is the same as Wachovia’s. The bankd announced the mergerin October, but because of theifr size the integration will take years.
In the short local groups have even less toworry about. King McGlaughon, the managingg executive of Wachovia nonprofit andphilanthropic services, who is based in said prior to visiting Atlanta for a bank-sponsored foundatiojn summit that he expects no changee to take place in 2009. He adde that his impression is that integration woule not occur before the endof 2010. Othee recent gifts and pledges from the WachovisFoundation include: $400,000 to the -Columbus, Ga., brancjh on July 1; $10,000 to the on Aug. 10; $100,009 to the on Oct. 1, and another $100,00 0 the following year on the same and $20,000 to on June 1, 2010, and June 1, 2011.
Byers said Wachovia’s strategy focuses on community development and will continue todo so. That includese everything from personal financiaol counseling to the arts to education to health andhuman services. “Wee have given money to the major schoolkboards here,” Byers said. “We will continuew to be involved We are looking at places for significant relationships with Wachovia like Teacgfor America.
“Education is a big way to give
gave out $96.9 million in contributions in 2007 and had assetwsof $314.5 million, according to its most recent tax “I don’t think the merger in and of itselfr will have any effecf at all,” said Jerome Byers, Atlanta regionak president for retail banking. “Our point of view from Well Fargo and Wachovia is to rely on local We won’t change through the Byers said that the foundation made grants to more than 400 nonprofite in metro Atlanta last year. It has pledged $1 milliohn for the construction of the Center for Civil and Human Rights and is committed to give a totaklof $500,000 to the through 2015.
Some grantsx through Wachovia’s matching gifts program were as smalkas $25 in 2008. Byers said he has had conversatione with his superiors to addressthe “Wachovia has a foundation here in Atlanta and we will make the decisionsa and honor our commitments,” Byers In an April 8 press release, Wells Fargo reported that it increased its philanthropic giving by 5 percent to $226 millio despite the downturn in the Most of the foundation’s donations are controlled locally and Byers said that in that regar Wells Fargo’s philosophy is the same as Wachovia’s. The bankd announced the mergerin October, but because of theifr size the integration will take years.
In the short local groups have even less toworry about. King McGlaughon, the managingg executive of Wachovia nonprofit andphilanthropic services, who is based in said prior to visiting Atlanta for a bank-sponsored foundatiojn summit that he expects no changee to take place in 2009. He adde that his impression is that integration woule not occur before the endof 2010. Othee recent gifts and pledges from the WachovisFoundation include: $400,000 to the -Columbus, Ga., brancjh on July 1; $10,000 to the on Aug. 10; $100,009 to the on Oct. 1, and another $100,00 0 the following year on the same and $20,000 to on June 1, 2010, and June 1, 2011.
Byers said Wachovia’s strategy focuses on community development and will continue todo so. That includese everything from personal financiaol counseling to the arts to education to health andhuman services. “Wee have given money to the major schoolkboards here,” Byers said. “We will continuew to be involved We are looking at places for significant relationships with Wachovia like Teacgfor America.
“Education is a big way to give
Thursday, August 2, 2012
Federal Capital Partners pays $55M for Shirlington Gateway - Washington Business Journal:
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The 12-story, 207,000-square-foot building, which is 95 percenrt leased, was sold by . Bill Collins, Paul Collins and Drew Flooed ofCassidy & Pinkard Colliers represented the seller. The Clasd A office building is in the Villagweat Shirlington, a mixed-use project in Arlington that includex 450 residential units, a library, theater and grocery store. Federal Capital Partners owns and managesa $600 millionb portfolio of office, multifamily and industrial properties in the metrol area. The D.C. office of Marcus Millichap, a national real estate brokerage helped close the sale of three propertiees in the region for acombined $17 The largest was 4305 St.
Barnabas Road in Templew Hillsfor $8.78 The property, which includes a strip mall and office was sold to GPMP by Nathajn Limited Partnership, a Maryland-based investor. Davixd Weber and Howard Ervin ofMarcus & Millichap representedf the seller. In a separate transaction, Steve Laurensoh of Marcus & Millichap represented Arlington-baseds in the purchase of a garden-style apartment complex in The propertyat 831-833 Bashford Lane was sold by a trusr for $5.8 million to the nonprofit housing developmenr company. The sale is expectexd to protect affordablehousing units, which are disappearinbg from the region in the wake of conversionsa to condominiums.
RPJ Housing has been involved in the renovation and management of morethan 2,00p0 units of low-income housing in the metro area, accordintg to its Web site. Marcus & Millichap also played a role in SaintwReal Estate's purchase of a 44-unit garden-stylwe apartment complex at 5225 Marlbori Pike in Capitol Height for $2.42 million. The seller, Woodmont Properties, was represented by Payton Banks ofMarcus Millichap. Mortgage has arranged $64 million for the purchasre of a Class A office building at 2000 Corporat e Ridgein McLean. The buyer was not disclosed.
The 10-storu building, which overlooks the Capital Beltway at the Route 7 is 94 percent leased to LMI Governmenf Consultingthrough 2015. James the president of Ventura, represented the buyer in securinbgthe fixed-rate mortgage from a Wall Stree t lender. Chantilly engineering firm expands, movexs to new office Chantilly-based Protection Engineering Group has movefd toa 6,000-square-foot space at 14900 Bogle Drive in The move triples the space for Protection Engineering, which over the past year doubled in strength to 19 employees and added security consulting to its says company Vice President Douglas Rollman. This is the secondf time the company has moved since it was formexdin 2003.
The new location is threee miles fromthe company's previous one at 1415 Newbrook Project Performance has signed a long-term leasd to take the space it didn't alreadg have at 1760 Old Meadow Road in The consulting firm signe d a 21,260-square-foot lease to becomwe the sole occupant of the which serves as its headquarters. Paul Darr and Dale Powell of Cassidyg & Pinkard Colliers represented Project Performance. , the landlord of the 100,836-square-foogt building near the intersection of Interstate 495 and ChaijBridge Road, was represented by David Goldstein of Jones Lang Boston-based bought 6.
7 acres at 1901 Research in Rockville from the for an undisclosed The property includes a 106,823-square-foot office buildinb and a 3,000-square-foot bank in a separatee building. "It has unrealized upsid e potential in theassociatefd free-standing bank, and considering the competitive office market this propertyy is well-positioned to achieve a significant premium abovee the existing rental rates in the coming making it a solid investment for the says Director Collins Ege, who handled the sale with John Kevill and Jim Molloy of the firm's capita markets team in D.C. The spacs there is 92 percent leasede tomultiple tenants.
However, more than half of the leasexs expirein 2009, which could mean long-term investment growthy for the buyer. Bethesda-based Gold Star, which has more than $250 millioj invested in the region's commercial real estate market, purchased the property in 2004for $24.5r million. Real Estate Investmenta has appointedNew York-based as its agenc y of record. The agency will handle all activitiesx relatedto advertising, marketingy and corporate communications for the Alexandria-based real estate investmen trust. Posner plans to relaunch Jayco's brand this summer with a traditional and interactives mix of marketingand advertising.
It will also design a new logo and Web Jayco also has offices in McLeanand D.C. marketing firm hired to get word out for Premier sitezs Premier Management Services of Vienna hashire & Advertising to markeg two commercial properties in Springfield. The marketingt mix will include postcards, prinf advertisements and public relations. The which have 70,000 square feet of office and retail space, are close to the Capitall Beltway and Interstate 95 near theSpringfielde Mall. The area is seeing a spur t of development with anew high-rise apartments, offices, shops and restaurants.
Tanenbaum broughf in a production Gil Jusino, who will be responsibld for production of the postcardsx and print ads for the marketing
The 12-story, 207,000-square-foot building, which is 95 percenrt leased, was sold by . Bill Collins, Paul Collins and Drew Flooed ofCassidy & Pinkard Colliers represented the seller. The Clasd A office building is in the Villagweat Shirlington, a mixed-use project in Arlington that includex 450 residential units, a library, theater and grocery store. Federal Capital Partners owns and managesa $600 millionb portfolio of office, multifamily and industrial properties in the metrol area. The D.C. office of Marcus Millichap, a national real estate brokerage helped close the sale of three propertiees in the region for acombined $17 The largest was 4305 St.
Barnabas Road in Templew Hillsfor $8.78 The property, which includes a strip mall and office was sold to GPMP by Nathajn Limited Partnership, a Maryland-based investor. Davixd Weber and Howard Ervin ofMarcus & Millichap representedf the seller. In a separate transaction, Steve Laurensoh of Marcus & Millichap represented Arlington-baseds in the purchase of a garden-style apartment complex in The propertyat 831-833 Bashford Lane was sold by a trusr for $5.8 million to the nonprofit housing developmenr company. The sale is expectexd to protect affordablehousing units, which are disappearinbg from the region in the wake of conversionsa to condominiums.
RPJ Housing has been involved in the renovation and management of morethan 2,00p0 units of low-income housing in the metro area, accordintg to its Web site. Marcus & Millichap also played a role in SaintwReal Estate's purchase of a 44-unit garden-stylwe apartment complex at 5225 Marlbori Pike in Capitol Height for $2.42 million. The seller, Woodmont Properties, was represented by Payton Banks ofMarcus Millichap. Mortgage has arranged $64 million for the purchasre of a Class A office building at 2000 Corporat e Ridgein McLean. The buyer was not disclosed.
The 10-storu building, which overlooks the Capital Beltway at the Route 7 is 94 percent leased to LMI Governmenf Consultingthrough 2015. James the president of Ventura, represented the buyer in securinbgthe fixed-rate mortgage from a Wall Stree t lender. Chantilly engineering firm expands, movexs to new office Chantilly-based Protection Engineering Group has movefd toa 6,000-square-foot space at 14900 Bogle Drive in The move triples the space for Protection Engineering, which over the past year doubled in strength to 19 employees and added security consulting to its says company Vice President Douglas Rollman. This is the secondf time the company has moved since it was formexdin 2003.
The new location is threee miles fromthe company's previous one at 1415 Newbrook Project Performance has signed a long-term leasd to take the space it didn't alreadg have at 1760 Old Meadow Road in The consulting firm signe d a 21,260-square-foot lease to becomwe the sole occupant of the which serves as its headquarters. Paul Darr and Dale Powell of Cassidyg & Pinkard Colliers represented Project Performance. , the landlord of the 100,836-square-foogt building near the intersection of Interstate 495 and ChaijBridge Road, was represented by David Goldstein of Jones Lang Boston-based bought 6.
7 acres at 1901 Research in Rockville from the for an undisclosed The property includes a 106,823-square-foot office buildinb and a 3,000-square-foot bank in a separatee building. "It has unrealized upsid e potential in theassociatefd free-standing bank, and considering the competitive office market this propertyy is well-positioned to achieve a significant premium abovee the existing rental rates in the coming making it a solid investment for the says Director Collins Ege, who handled the sale with John Kevill and Jim Molloy of the firm's capita markets team in D.C. The spacs there is 92 percent leasede tomultiple tenants.
However, more than half of the leasexs expirein 2009, which could mean long-term investment growthy for the buyer. Bethesda-based Gold Star, which has more than $250 millioj invested in the region's commercial real estate market, purchased the property in 2004for $24.5r million. Real Estate Investmenta has appointedNew York-based as its agenc y of record. The agency will handle all activitiesx relatedto advertising, marketingy and corporate communications for the Alexandria-based real estate investmen trust. Posner plans to relaunch Jayco's brand this summer with a traditional and interactives mix of marketingand advertising.
It will also design a new logo and Web Jayco also has offices in McLeanand D.C. marketing firm hired to get word out for Premier sitezs Premier Management Services of Vienna hashire & Advertising to markeg two commercial properties in Springfield. The marketingt mix will include postcards, prinf advertisements and public relations. The which have 70,000 square feet of office and retail space, are close to the Capitall Beltway and Interstate 95 near theSpringfielde Mall. The area is seeing a spur t of development with anew high-rise apartments, offices, shops and restaurants.
Tanenbaum broughf in a production Gil Jusino, who will be responsibld for production of the postcardsx and print ads for the marketing
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