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Stratus is behind in filing its financial reportx because of past accounting errors the company is attemptingbto rectify. The delay in filings though breakse with Nasdaq rules and the companu has been unable to meet deadlines for the plan it submitterd toregain compliance. Stratus (Nasdaq: STRS) received a letter from the Nasdaqw on May 15 saying it is subjecty to delisting based on its delinquent financial reports. Stratus said Thursday it is workint diligently to complete the preparation of its annual report for 2008 and its quarterlty report for the three monthsd that endedMarch 31.
Compangy officials say they intend to request a hearing before a Nasdaqa Hearings Panel no latee than May 22 askinvg for an extension to allow it time to completre and fileits financials. request for a hearing will automatically suspend the delisting of its stocm for 15 calendar days from the deadline to requesga hearing, or until June 8. But the company also intends to request a further stay on the delistingt pendingthe panel’s decision. Hearings are typicall y held within 30 to 45 calendar days fromthe Stratus' shares were trading at around $7.1 0 on Thursday, down nearly 6 percengt from Wednesday's closing price. The stock has tradee in the rangeof $4.52 to $30.
7r over the last 52 weeks. Austin-based Stratuzs is a real estate acquisition, managemeny and development company. It's currently steering the developmen ofthe downtown.
Thursday, June 30, 2011
Monday, June 27, 2011
Pelosi Remarks at Italian Earthquake Commemoration Ceremony
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The Ceremony coincides with the Italian National Day Celebration and recognizes the catastrophic damage to the region during the earthquakes earlier this Below are her remarksas prepared: "Thank you, Mr. Ambassado r for that kind introduction. "Ambassador Castellaneta represents the Italiamn Republic in the United Statea with theupmost dignity. His leadershipo has only served to strengthen the more than six decadelong U.S.--Italian alliance, and that was clear during my recent trip to Italyh in February. "I was honored to accept the Ambassador'a invitation to join you this evenintg to honor those lost in the terrible earthquakew that struck Abruzzoin April.
"As someon e who can trace my family's roots back to Genoa, Campobasso, Sicily, and Abruzzo, I felt personallu committed to ensuring that the United State s provided allpossible assistance. "Soon afted this disaster struck, I called President Berlusconi on behalf of my colleaguew in the Congress to express our deepest condolences to the familiex and loved ones ofthose lost. "Having visited Italy as part ofa U.S. delegatiojn in the aftermath of the earthquake in Southernm Italyin 1980, I have seen firsthand the courage of the Italiaj people in the face of a similatr tragedy.
"The United States and the world have made clearf our support for the Italian people by offerinv humanitarian aid to those affectedin Abruzzo. "It is estimatedf that Americans have alreadydonated $1.7 milliob to this effort, a figure that is only expected to "Even in tragedy, the Italian people have shown courage and strength, as exemplifiefd by , the Italian cyclist who committex himself to winning Stag e 17 of the Giro, which passed through his home regiojn of Abruzzo. on to victory. "While he fell seconds shorrt ofhis goal, rallied the Italianm people with his effort and demonstratedc the fortitude of the Italian peoplde that will help Abruzzp recover and rebuild.
"America is a land discoverex byan Italian, named for an and built by millions of Italiaj Americans. "Our bond is uniquely strongf because of the vital role daughters and sons of Italt have played in the United States from its discovergyto today. "In timews of crisis, we come to each other'es aid. That is because the Unite States has no greater friend in Europewthan Italy, and Italt has no greater friend in the worled than the United States. "Today, we mournh those lost in Abruzzo and those strugglinf to rebuildtheir lives. We hope that it is some comfortt that so many people throughoutt the world are thinking of them and prayinv for them at thisdifficultr time.
We will help them rebuild and reclaim their lives. "God bless America. !"
The Ceremony coincides with the Italian National Day Celebration and recognizes the catastrophic damage to the region during the earthquakes earlier this Below are her remarksas prepared: "Thank you, Mr. Ambassado r for that kind introduction. "Ambassador Castellaneta represents the Italiamn Republic in the United Statea with theupmost dignity. His leadershipo has only served to strengthen the more than six decadelong U.S.--Italian alliance, and that was clear during my recent trip to Italyh in February. "I was honored to accept the Ambassador'a invitation to join you this evenintg to honor those lost in the terrible earthquakew that struck Abruzzoin April.
"As someon e who can trace my family's roots back to Genoa, Campobasso, Sicily, and Abruzzo, I felt personallu committed to ensuring that the United State s provided allpossible assistance. "Soon afted this disaster struck, I called President Berlusconi on behalf of my colleaguew in the Congress to express our deepest condolences to the familiex and loved ones ofthose lost. "Having visited Italy as part ofa U.S. delegatiojn in the aftermath of the earthquake in Southernm Italyin 1980, I have seen firsthand the courage of the Italiaj people in the face of a similatr tragedy.
"The United States and the world have made clearf our support for the Italian people by offerinv humanitarian aid to those affectedin Abruzzo. "It is estimatedf that Americans have alreadydonated $1.7 milliob to this effort, a figure that is only expected to "Even in tragedy, the Italian people have shown courage and strength, as exemplifiefd by , the Italian cyclist who committex himself to winning Stag e 17 of the Giro, which passed through his home regiojn of Abruzzo. on to victory. "While he fell seconds shorrt ofhis goal, rallied the Italianm people with his effort and demonstratedc the fortitude of the Italian peoplde that will help Abruzzp recover and rebuild.
"America is a land discoverex byan Italian, named for an and built by millions of Italiaj Americans. "Our bond is uniquely strongf because of the vital role daughters and sons of Italt have played in the United States from its discovergyto today. "In timews of crisis, we come to each other'es aid. That is because the Unite States has no greater friend in Europewthan Italy, and Italt has no greater friend in the worled than the United States. "Today, we mournh those lost in Abruzzo and those strugglinf to rebuildtheir lives. We hope that it is some comfortt that so many people throughoutt the world are thinking of them and prayinv for them at thisdifficultr time.
We will help them rebuild and reclaim their lives. "God bless America. !"
Saturday, June 25, 2011
Teacher Charged With Cyberstalking Roils Small North Carolina Town - ABC News
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ABC News | Teacher Charged With Cyberstalking Roils Small North Carolina Town ABC News Megan Mantooth (pictured on Burgaw Middle School's website), a married middle school teacher, is charged with cybserstalking her 13-year-old student. (Burgaw Middle School) A middle school teacher has been charged with cyberstalking ... |
Thursday, June 23, 2011
Hampel to expand Germantown factory, add employees - The Business Journal of Milwaukee:
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Hampel plans to add 59,000 squarse feet to its 100,000-square-foot plangt in the Germantown Industrial Park. , of Minneapolis, took over operation, sales and marketing of Hampel-branded portabl e restroom products onJune 1. As part of the Hampel has been selectec by Satellite Industries to serve as its global manufacturingt partner for the productionof Satellite’s portable toilets and Hampel also will manufacture plastic parts for “The sale of our restroom producr line is very exciting because we will continuew to manufacture the globaol parts for Satellite, plus add Satellitde thermoformed parts to our production facility,” said Lancre Hampel, chief executive officer and owne r of Hampel.
“This allows Hampel to increasee plastic forming production at a time when most companies are The deal will benefit both companies duringt a period of extendedfeconomic woes, said Todd Hilde, CEO and owne r of Satellite Industries. “Thie acquisition is part of our overall businesse strategy during thischallengin economy,” Hilde said. “Companies like ours are choosinyg to consolidate in order to remain stronf in a weak In order to handlde the anticipated additionalmanufacturing demand, Hampek plans to expand its existing factory. The villages of Germantown approvedan 88,500-square-foot expansion of Hampel’d plant, W194 N11551 McCormick Dr.
the company plans to limi t the expansionto 59,000 square feet at this time, Hampe l spokesman Joe Weber said. The addition will house a new plasticv thermoforming machine and provide additionalwarehousd space. Hampel, which currently has 79 plans to hire as many as 10 new workerx and will restart a third shift in orde to meet increased manufacturing Foundedin 1976, Hampel also manufacturess a proprietary line of products for the domestic and international dairty markets sold under the Calf-Tel brand name.
The company also performse contract manufacturing work for leading originalequipmenyt manufacturers, including Milwaukee-based (NYSE: (NYSE: JCI), Glendale; and (NYSE: DE), Moline, Ill.
Hampel plans to add 59,000 squarse feet to its 100,000-square-foot plangt in the Germantown Industrial Park. , of Minneapolis, took over operation, sales and marketing of Hampel-branded portabl e restroom products onJune 1. As part of the Hampel has been selectec by Satellite Industries to serve as its global manufacturingt partner for the productionof Satellite’s portable toilets and Hampel also will manufacture plastic parts for “The sale of our restroom producr line is very exciting because we will continuew to manufacture the globaol parts for Satellite, plus add Satellitde thermoformed parts to our production facility,” said Lancre Hampel, chief executive officer and owne r of Hampel.
“This allows Hampel to increasee plastic forming production at a time when most companies are The deal will benefit both companies duringt a period of extendedfeconomic woes, said Todd Hilde, CEO and owne r of Satellite Industries. “Thie acquisition is part of our overall businesse strategy during thischallengin economy,” Hilde said. “Companies like ours are choosinyg to consolidate in order to remain stronf in a weak In order to handlde the anticipated additionalmanufacturing demand, Hampek plans to expand its existing factory. The villages of Germantown approvedan 88,500-square-foot expansion of Hampel’d plant, W194 N11551 McCormick Dr.
the company plans to limi t the expansionto 59,000 square feet at this time, Hampe l spokesman Joe Weber said. The addition will house a new plasticv thermoforming machine and provide additionalwarehousd space. Hampel, which currently has 79 plans to hire as many as 10 new workerx and will restart a third shift in orde to meet increased manufacturing Foundedin 1976, Hampel also manufacturess a proprietary line of products for the domestic and international dairty markets sold under the Calf-Tel brand name.
The company also performse contract manufacturing work for leading originalequipmenyt manufacturers, including Milwaukee-based (NYSE: (NYSE: JCI), Glendale; and (NYSE: DE), Moline, Ill.
Monday, June 20, 2011
Fla. confirms first swine flu death - Jacksonville Business Journal:
borislavamcoc.blogspot.com
The laboratory confirmation ofthe boy's deatu is the first in the state for the strain of swin e flu, the Florida Department of Healtj said. Florida has 417 confirmed cases ofthe flu. Surgeojn General Dr. Ana Viamontre Ros said in a statement, "While most cases of H1N1 swine fluare mild, there are exceptions like this tragicx case. Nationally, the CDC is reporting 45 deathz associated withswine flu, and as the flu progressed that number will unfortunately rise." The department has a surveillance systemm involving physicians to track the flu and also is monitoringv emergency room cases and over-the-counter drug The department's four labs can all test for the flu.
has placeed the alert level for the flu at thepandemix level, meaning it has widespreae global circulation. Wash handsd frequently and avoid touchingyour eyes, nose and mouth. Avoidf close contact with peopls who are coughing or otherwiseappear ill. Stay home from work or schooo if you have arespiratory illness. Anyone who thinks he or she has influenza shoulfd calltheir doctor. Meghan Lehner, an attorney with in West Palm said in May that employers are prohibited by the from exposing employees to hazardous conditions and may be required to send infectex employees home or risk sanctions forOSHA violations.
OSHA has postedr frequently asked questions on pandemic influenza preparedness and response guidanc for health care workers and healtjh care employersat http://www.osha.gov/Publications/influenza_pandemic.html
The laboratory confirmation ofthe boy's deatu is the first in the state for the strain of swin e flu, the Florida Department of Healtj said. Florida has 417 confirmed cases ofthe flu. Surgeojn General Dr. Ana Viamontre Ros said in a statement, "While most cases of H1N1 swine fluare mild, there are exceptions like this tragicx case. Nationally, the CDC is reporting 45 deathz associated withswine flu, and as the flu progressed that number will unfortunately rise." The department has a surveillance systemm involving physicians to track the flu and also is monitoringv emergency room cases and over-the-counter drug The department's four labs can all test for the flu.
has placeed the alert level for the flu at thepandemix level, meaning it has widespreae global circulation. Wash handsd frequently and avoid touchingyour eyes, nose and mouth. Avoidf close contact with peopls who are coughing or otherwiseappear ill. Stay home from work or schooo if you have arespiratory illness. Anyone who thinks he or she has influenza shoulfd calltheir doctor. Meghan Lehner, an attorney with in West Palm said in May that employers are prohibited by the from exposing employees to hazardous conditions and may be required to send infectex employees home or risk sanctions forOSHA violations.
OSHA has postedr frequently asked questions on pandemic influenza preparedness and response guidanc for health care workers and healtjh care employersat http://www.osha.gov/Publications/influenza_pandemic.html
Saturday, June 18, 2011
Aurora's Southlands shopping center damaged by tornado - Denver Business Journal:
http://eastsideheritagecenter.org/heritage_corner.html
A twister reportedly touched down nearbyat 1:49 p.m. Sundah and crossed through the area onan eight- to 10-mile-long path for about 30 minutes, the . Firefighters found moderate damage at locatedat E-470 and Smoky Hill Road, CBS4 News Rooftop heating, venting and air-conditioning units were windows were broken, a shed was destroyed, and a car was Natural-gas leaks also were noted. Authoritiesa shut down gas service to Southlanda earlySunday afternoon. No serious injuries were reported onthe shopping-centef grounds, but a man in a nearbyt neighborhood who was trying to take picture s reportedly was hospitalized with unspecifieds serious injuries, according to news reports.
A Southlandz spokeswoman told CBS4 most ofthe center'a stores will be closed Mondaty to allow for continued damags assessment. She said customers should call individualo stores to verify whether they are closedcor open. Southlands, which opened in is the Denver area's largest shoppingb center by retail space, at 1.7 million squaree feet. It consists of severak freestanding buildings connected by pedestrian corridorsand streets. The complex is ownede by Granite Southlands Town Center LLC and managed by Foresy City CommercialManagement Inc. Four othedr tornadoes were spotted north and east of DenverSunday afternoon, and baseball-size d hail struck some areas.
As many as 3,009 customers were without power for a time in parts of Auroraand Centennial. .
A twister reportedly touched down nearbyat 1:49 p.m. Sundah and crossed through the area onan eight- to 10-mile-long path for about 30 minutes, the . Firefighters found moderate damage at locatedat E-470 and Smoky Hill Road, CBS4 News Rooftop heating, venting and air-conditioning units were windows were broken, a shed was destroyed, and a car was Natural-gas leaks also were noted. Authoritiesa shut down gas service to Southlanda earlySunday afternoon. No serious injuries were reported onthe shopping-centef grounds, but a man in a nearbyt neighborhood who was trying to take picture s reportedly was hospitalized with unspecifieds serious injuries, according to news reports.
A Southlandz spokeswoman told CBS4 most ofthe center'a stores will be closed Mondaty to allow for continued damags assessment. She said customers should call individualo stores to verify whether they are closedcor open. Southlands, which opened in is the Denver area's largest shoppingb center by retail space, at 1.7 million squaree feet. It consists of severak freestanding buildings connected by pedestrian corridorsand streets. The complex is ownede by Granite Southlands Town Center LLC and managed by Foresy City CommercialManagement Inc. Four othedr tornadoes were spotted north and east of DenverSunday afternoon, and baseball-size d hail struck some areas.
As many as 3,009 customers were without power for a time in parts of Auroraand Centennial. .
Thursday, June 16, 2011
Houston Business Journal parent to give home to Portfolio.com - Houston Business Journal:
adavuxuf.wordpress.com
American City Business Journals is pareng company of the Houston BusinessJournal . and ACBJ . Bizjournals will oversee the editorial and businesds sides ofthe site. The Portfolio.com editorial team and saless staff will be based inNew York. Condé Nast Portfolioi magazine and its Website Portfolio.com launchede in April 2007; the magazine closefd in April. The site providedd insight intothe day’s top business with analysis from bloggers and columnists. Tim president of new mediq at ACBJ, and David group president at Condé announced the move Wednesday. ACBJ and Condé Nast are unitsx of . In addition to newlu created content, Portfolio.
com will share contengt with other Condé Nast sites such as , GolfDigest.com, and , as it did It also will be the home of the archivez of content publishedby Portfolio’s prin t and digital properties over the past 24 “We are excited about continuing Portfolio.co m and including the site in the bizjournalds network because we were impressed by Portfolio’s strong Web presence, its clean and criso design, and its voice in the business-journalis marketplace,” Bradbury said. “We believe our readers will benefit as therelaunche Portfolio.
com will have a stronger focus on industry news and a greater mission to offetr information relevant to today’s business professionals.” On top of its existinh strengths, Portfolio.com will leverage the collaboratives skills and insights of the more than 600 ACBJ businesds journalists around the country, Bradbury The site will have access to local marke t intelligence and work collaboratively with ACBJ newsrooms across the country, presentinhg the most important local insights through a nationap lens and making it unique amontg national business media, he says. “Wr knew that Portfolio.
com was a highly valuable asset, with an establishedd digital brand, strong direct navigation by users, and a long tail of traffic from contentr published over the pasttwo years,” Careu said. “We saw ACBJ as a perfect match due to its great editorial resourcess in thebusiness arena, and view this as a win for both Portfolio.com’x readers and the Portfolio.com grew to 2.8 millionh monthly unique visitors and won industry praise with awardz such as the MIN:Best of Web Award MIN:Hottest Launch of the Year 2007, and Webby nomineese in Best Business blog and Financial Services categories.
Americajn City metropolitan business newspapers reach 4 million readerw each weekwith exclusive, in-depth coverage of their businesz communities. Bizjournals is the online medi divisionof ACBJ, the nation’xs largest publisher of metropolitah business newspapers. It operates the Web sitesw for each ofthe company’s 40 printy business journals and operates a Web-only site with local businessw news and information for Los Angeles. Bizjournals provides nearly 9 million monthly online userss daily and weekly local business newsand information.
Nast includes 22 consumer magazines, Condé Nast the Fairchild Fashion Group, Parade, the Nast Media Group and the SharedService Centers.
American City Business Journals is pareng company of the Houston BusinessJournal . and ACBJ . Bizjournals will oversee the editorial and businesds sides ofthe site. The Portfolio.com editorial team and saless staff will be based inNew York. Condé Nast Portfolioi magazine and its Website Portfolio.com launchede in April 2007; the magazine closefd in April. The site providedd insight intothe day’s top business with analysis from bloggers and columnists. Tim president of new mediq at ACBJ, and David group president at Condé announced the move Wednesday. ACBJ and Condé Nast are unitsx of . In addition to newlu created content, Portfolio.
com will share contengt with other Condé Nast sites such as , GolfDigest.com, and , as it did It also will be the home of the archivez of content publishedby Portfolio’s prin t and digital properties over the past 24 “We are excited about continuing Portfolio.co m and including the site in the bizjournalds network because we were impressed by Portfolio’s strong Web presence, its clean and criso design, and its voice in the business-journalis marketplace,” Bradbury said. “We believe our readers will benefit as therelaunche Portfolio.
com will have a stronger focus on industry news and a greater mission to offetr information relevant to today’s business professionals.” On top of its existinh strengths, Portfolio.com will leverage the collaboratives skills and insights of the more than 600 ACBJ businesds journalists around the country, Bradbury The site will have access to local marke t intelligence and work collaboratively with ACBJ newsrooms across the country, presentinhg the most important local insights through a nationap lens and making it unique amontg national business media, he says. “Wr knew that Portfolio.
com was a highly valuable asset, with an establishedd digital brand, strong direct navigation by users, and a long tail of traffic from contentr published over the pasttwo years,” Careu said. “We saw ACBJ as a perfect match due to its great editorial resourcess in thebusiness arena, and view this as a win for both Portfolio.com’x readers and the Portfolio.com grew to 2.8 millionh monthly unique visitors and won industry praise with awardz such as the MIN:Best of Web Award MIN:Hottest Launch of the Year 2007, and Webby nomineese in Best Business blog and Financial Services categories.
Americajn City metropolitan business newspapers reach 4 million readerw each weekwith exclusive, in-depth coverage of their businesz communities. Bizjournals is the online medi divisionof ACBJ, the nation’xs largest publisher of metropolitah business newspapers. It operates the Web sitesw for each ofthe company’s 40 printy business journals and operates a Web-only site with local businessw news and information for Los Angeles. Bizjournals provides nearly 9 million monthly online userss daily and weekly local business newsand information.
Nast includes 22 consumer magazines, Condé Nast the Fairchild Fashion Group, Parade, the Nast Media Group and the SharedService Centers.
Tuesday, June 14, 2011
WCI, developer of Westshore Yacht Club, files reorganization plan - Washington Business Journal:
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The company filed a plan of reorganizatiob with the for the Districyt ofDelaware Monday, about 10 months after it Chapter 11 bankruptcyy protection. Under the plan, the company’s senior secured lenders will receive new firsty lien debttotaling $450 million, including a $150 million payment-in-kinf component, a release said. The senior securedf lenders will hold a 95 percent equity stak e in thereorganized company.
The remainingb 5 percent equity stake would be sharef bythe company’s unsecured The unsecured creditors’ share would begin to increase when the new debt is fullyy retired and would reach a maximum of 35 percent, aftedr the secured lenders have receivedr payments of about $70 million, the amountg currently owed to them, the releasde said. The plan reflects positions takenn in lengthy negotiations but has not been approved or recommendedcby creditors, the release said.
WCI said in the releasre that it wanted to get a plan on file with the bankruptcyt court so discussions could continure and a definitive timeline for exit could be WCI also reaffirmed an earlier decisionj to suspend all Florida homebuilding new constructionactivities indefinitely, pending market recovery, the release although it will complete homed under construction and continue maintenance of its WCI (PINK SHEETS: WCIMQ) is based in Bonita Springs but has closd ties to the Tampa Bay area.
WCI communities in the Bay area includ e inHillsborough County, in Tampa, in Bradenton and the in
The company filed a plan of reorganizatiob with the for the Districyt ofDelaware Monday, about 10 months after it Chapter 11 bankruptcyy protection. Under the plan, the company’s senior secured lenders will receive new firsty lien debttotaling $450 million, including a $150 million payment-in-kinf component, a release said. The senior securedf lenders will hold a 95 percent equity stak e in thereorganized company.
The remainingb 5 percent equity stake would be sharef bythe company’s unsecured The unsecured creditors’ share would begin to increase when the new debt is fullyy retired and would reach a maximum of 35 percent, aftedr the secured lenders have receivedr payments of about $70 million, the amountg currently owed to them, the releasde said. The plan reflects positions takenn in lengthy negotiations but has not been approved or recommendedcby creditors, the release said.
WCI said in the releasre that it wanted to get a plan on file with the bankruptcyt court so discussions could continure and a definitive timeline for exit could be WCI also reaffirmed an earlier decisionj to suspend all Florida homebuilding new constructionactivities indefinitely, pending market recovery, the release although it will complete homed under construction and continue maintenance of its WCI (PINK SHEETS: WCIMQ) is based in Bonita Springs but has closd ties to the Tampa Bay area.
WCI communities in the Bay area includ e inHillsborough County, in Tampa, in Bradenton and the in
Saturday, June 11, 2011
Bradley Center funding moves forward - The Business Journal of Milwaukee:
bacijaxymu.wordpress.com
The time frame for the money is much soonetr than originally recommendedin Gov. Jim Doyle’es proposed budget. Doyle had proposesd $500,000 per year in state bonding authority overa 10-year Bradley Center chairman Ulice Payner said the committee’s recommendation to speed up the allocationh would allow building officiala to address “urgent concerns more promptly.” “Thd approach endorsed by the committee will allow the Bradley Center to more quicklh address issues such as obsolete electrical and HVAC systems and install more energy-efficientg lighting,” he said.
“Resolving these items now will make for betterd maintenance of the building in thelonger term. That’sw important to extending the life of the The Bradley Center is planning to invesy a totalof $23 million in the Bradley Center to replace aging building systems and infrastructure. The remainintg funds needed for building maintenance would be raised through privats sources and revenue fromthe building. The list of problem areax highlighted in a recent BusinesswJournal story, along with projected replacement costs, include: • Seriouslyu outdated mechanical and heating and air conditioning systems requirinvg major upgrades that will cost about $500,000.
An outdated scoreboard that was installedin 1995. A new scoreboardr is estimated to costbetween $4 millionb and $4.5 million. • An aging roof that needw about $150,000 in repair work. • An obsolete hockety rink system that must be replaced at a cost estimatedsbetween $200,000 and $300,000. Aging and energy inefficient lighting and worn out electricaol and electrical components that will costabouft $175,000. • Replacement or refurbishment of a substantial portion ofthe 18,000 seats. • The replacement of temporary handrails throughout the seating which will costabout $200,000.
• And upgrades to the securitgy and life safety In addition, Bradley Center official s want to add a team store, a sit-dowmn restaurant and a family interactive all of which would be important revenue-generators for the In fact, many NBA arenas have severak of those amenities, including the Targetr Center in Minneapolis, which is home to the NBA City The Bradley Center is the second-oldest arenas in the NBA that has not had a major It was constructed in 1988 as a gift to the communitgy from Jane Bradley Pettit, an heiress to the Allen-Bradley Co. founders.
The facility is the home to theMilwaukese Bucks, Milwaukee Admirals, Marquette Universitty Golden Eagles and the Milwaukee Iron arena footbalp team. The center also hosts special events andmusicalp performances.
The time frame for the money is much soonetr than originally recommendedin Gov. Jim Doyle’es proposed budget. Doyle had proposesd $500,000 per year in state bonding authority overa 10-year Bradley Center chairman Ulice Payner said the committee’s recommendation to speed up the allocationh would allow building officiala to address “urgent concerns more promptly.” “Thd approach endorsed by the committee will allow the Bradley Center to more quicklh address issues such as obsolete electrical and HVAC systems and install more energy-efficientg lighting,” he said.
“Resolving these items now will make for betterd maintenance of the building in thelonger term. That’sw important to extending the life of the The Bradley Center is planning to invesy a totalof $23 million in the Bradley Center to replace aging building systems and infrastructure. The remainintg funds needed for building maintenance would be raised through privats sources and revenue fromthe building. The list of problem areax highlighted in a recent BusinesswJournal story, along with projected replacement costs, include: • Seriouslyu outdated mechanical and heating and air conditioning systems requirinvg major upgrades that will cost about $500,000.
An outdated scoreboard that was installedin 1995. A new scoreboardr is estimated to costbetween $4 millionb and $4.5 million. • An aging roof that needw about $150,000 in repair work. • An obsolete hockety rink system that must be replaced at a cost estimatedsbetween $200,000 and $300,000. Aging and energy inefficient lighting and worn out electricaol and electrical components that will costabouft $175,000. • Replacement or refurbishment of a substantial portion ofthe 18,000 seats. • The replacement of temporary handrails throughout the seating which will costabout $200,000.
• And upgrades to the securitgy and life safety In addition, Bradley Center official s want to add a team store, a sit-dowmn restaurant and a family interactive all of which would be important revenue-generators for the In fact, many NBA arenas have severak of those amenities, including the Targetr Center in Minneapolis, which is home to the NBA City The Bradley Center is the second-oldest arenas in the NBA that has not had a major It was constructed in 1988 as a gift to the communitgy from Jane Bradley Pettit, an heiress to the Allen-Bradley Co. founders.
The facility is the home to theMilwaukese Bucks, Milwaukee Admirals, Marquette Universitty Golden Eagles and the Milwaukee Iron arena footbalp team. The center also hosts special events andmusicalp performances.
Thursday, June 9, 2011
Extended Stay Hotels files Chapter 11 - Atlanta Business Chronicle:
borislavamcoc.blogspot.com
The Spartanburg, S.C.-based company filed the reorganization petitio in New York bankruptcy Secretary and General Counsel Joseph Teichmaj writing that Extended Stay hadabout $7.1 billion in assets and $7.6 billiob in liabilities at the end of 2008. Extended Stay, whos more than 680 properties are managed byHVM LLC, has eigh Central Ohio sites, including thos e near the Mall at Tuttlse Crossing, Polaris Fashion Place and Easton Town The company bills itself as the largest operatodr of mid-priced extended-stay hotels in the nation.
Teichman in a courty filing on Monday wrote that the compang sought protection from creditors amid a general downturn in the hospitality industry and a hit take n as fewer potential customers needthe company’s services. “Since the typical Extended Stay customer seeks a lengthy stay based oncommercial relocation, the contraction of construction and new businesxs development began to significantly and adversely affected Extended Stay’s revenuee stream,” Teichman wrote. The company said its averaged revenue per room dropped about 23 percengt in the first five monthz of the year compared with the same periodof 2008.
As a it was unable to deal with its debt burden with cash flow and is seekinga “comprehensivd restructuring of the entire capital structure.” Extended Stay said it planes to run operations following the Chapter 11 petitiom under a lender-approved arrangemenft using cash collateral. Debtor-in-possession financing won’t be needed, the compant said. About 9,900 employees work in hotela operated by Extended The company is in 44 states and hasabougt 77,000 rooms.
The Spartanburg, S.C.-based company filed the reorganization petitio in New York bankruptcy Secretary and General Counsel Joseph Teichmaj writing that Extended Stay hadabout $7.1 billion in assets and $7.6 billiob in liabilities at the end of 2008. Extended Stay, whos more than 680 properties are managed byHVM LLC, has eigh Central Ohio sites, including thos e near the Mall at Tuttlse Crossing, Polaris Fashion Place and Easton Town The company bills itself as the largest operatodr of mid-priced extended-stay hotels in the nation.
Teichman in a courty filing on Monday wrote that the compang sought protection from creditors amid a general downturn in the hospitality industry and a hit take n as fewer potential customers needthe company’s services. “Since the typical Extended Stay customer seeks a lengthy stay based oncommercial relocation, the contraction of construction and new businesxs development began to significantly and adversely affected Extended Stay’s revenuee stream,” Teichman wrote. The company said its averaged revenue per room dropped about 23 percengt in the first five monthz of the year compared with the same periodof 2008.
As a it was unable to deal with its debt burden with cash flow and is seekinga “comprehensivd restructuring of the entire capital structure.” Extended Stay said it planes to run operations following the Chapter 11 petitiom under a lender-approved arrangemenft using cash collateral. Debtor-in-possession financing won’t be needed, the compant said. About 9,900 employees work in hotela operated by Extended The company is in 44 states and hasabougt 77,000 rooms.
Tuesday, June 7, 2011
Survey: Economy will bottom out later this year - Atlanta Business Chronicle:
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The survey found half of the respondentas saying they expected the economy will hit bottom by thefourthu quarter, Chicago-based audit, tax and advisory firm announce d Friday. The survey was conducted durinv a roundtable discussion last week attended by boardx membersfrom Milwaukee-area companies. Board memberw said they were very confident or confidengt about theirsenior executives’ ability to managee through the tough economy. However, 42 percent of respondents expressef concern that management teams do not have a formal process to identify key changews in the business and help them link that informatiomn tothe organization’s risk managementy efforts.
The economic downturnn has increased board emphasis onrisk management, said Greg managing partner of the Milwaukees office of KPMG. He noted that as a resulyt of the greater focus on board members are gettingmore “handsz on” and want more information about the organization’sx performance and the challenges presented in the marketplace. Abou t half the executives said they were only somewhat or not at all satisfiedf that their company had identified the appropriate metrics to tracj and assess its performance in the currentgeconomic environment, Ryan said.
In addition, 27 percentr of respondents said they were concerned or very concerned thatthe board’ s ability to provide effective oversight was hamperedx by the quality, timeliness and credibility of the informationb it receives. “This economyh has caused boards to conducgt a broad recalibration of theier governanceand oversight,” Ryan said. “Directors are insisting on bettef information about the business in a formayt that is clearand meaningful.
”
The survey found half of the respondentas saying they expected the economy will hit bottom by thefourthu quarter, Chicago-based audit, tax and advisory firm announce d Friday. The survey was conducted durinv a roundtable discussion last week attended by boardx membersfrom Milwaukee-area companies. Board memberw said they were very confident or confidengt about theirsenior executives’ ability to managee through the tough economy. However, 42 percent of respondents expressef concern that management teams do not have a formal process to identify key changews in the business and help them link that informatiomn tothe organization’s risk managementy efforts.
The economic downturnn has increased board emphasis onrisk management, said Greg managing partner of the Milwaukees office of KPMG. He noted that as a resulyt of the greater focus on board members are gettingmore “handsz on” and want more information about the organization’sx performance and the challenges presented in the marketplace. Abou t half the executives said they were only somewhat or not at all satisfiedf that their company had identified the appropriate metrics to tracj and assess its performance in the currentgeconomic environment, Ryan said.
In addition, 27 percentr of respondents said they were concerned or very concerned thatthe board’ s ability to provide effective oversight was hamperedx by the quality, timeliness and credibility of the informationb it receives. “This economyh has caused boards to conducgt a broad recalibration of theier governanceand oversight,” Ryan said. “Directors are insisting on bettef information about the business in a formayt that is clearand meaningful.
”
Saturday, June 4, 2011
Mortgage rates fall a second week - Baltimore Business Journal:
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's weekly report says 30-year fixed-rate mortgagews averaged 5.2 percent this week, down from last week'd average of 5.32 percent. A year ago, 30-yead mortgages were averaging 6.37 percent, althoughy rates fell below 5 percent earlie rthis year. The nation’s job market is one factor thought to be influencingmortgage rates. “Interest rates for 30-year fixed-rate mortgages fell to the lowesft level in six weekd amid market concerns over a weakeninglabor market,” said Freddie Mac chiegf economist Frank Nothaft. “The economy lost 467,00p0 jobs in June, more than the market and the unemployment rate roseto 9.
5 the highest since August this week in mortgage as refinancing activity jumped and applications to purchas e homes rose to the highest levep in three months. Those with more than one mortgage obligatiohnare struggling. The reported this week that the numbert of home equity loans thatwere 30-days or more delinqueny rose to a record high of 3.52 percent in the firsyt quarter and home equity lines of credit in defaulr also reached a record of 1.
89
's weekly report says 30-year fixed-rate mortgagews averaged 5.2 percent this week, down from last week'd average of 5.32 percent. A year ago, 30-yead mortgages were averaging 6.37 percent, althoughy rates fell below 5 percent earlie rthis year. The nation’s job market is one factor thought to be influencingmortgage rates. “Interest rates for 30-year fixed-rate mortgages fell to the lowesft level in six weekd amid market concerns over a weakeninglabor market,” said Freddie Mac chiegf economist Frank Nothaft. “The economy lost 467,00p0 jobs in June, more than the market and the unemployment rate roseto 9.
5 the highest since August this week in mortgage as refinancing activity jumped and applications to purchas e homes rose to the highest levep in three months. Those with more than one mortgage obligatiohnare struggling. The reported this week that the numbert of home equity loans thatwere 30-days or more delinqueny rose to a record high of 3.52 percent in the firsyt quarter and home equity lines of credit in defaulr also reached a record of 1.
89
Thursday, June 2, 2011
AAA: Gas up about $1/gallon since Jan. 1 - New Mexico Business Weekly:
esivyjifag.wordpress.com
According to the AAA New Mexicp WeekendGas Watch, this week’s state averagwe is $2.59. The most expensive gas among the statesa most populous cities can be found in Santa Fe at Albuquerque and Las Cruces are the least expensiveeat $2.53. Nationally, gasoline is $2.5 a gallon, up 12 cents in a week and abouty 45 cents inone month. Prices are still about a $1.400 below where they were on this date oneyear ago. “Tpo put the current prices into perspective, the average fill-upo for a car with a 14 gallon tankis $36,” said AAA New Mexic spokesman Dan Ronan.
“Motoristes are paying between $12 and $15 a gallon more per tank than what were they just five months ago, however, last summer that same tank of gas costs driveras nearly $56.” Analysts point to rising oil and wholesaler gas prices as the reason for the In late April, a barrel of oil cost $51 and now costsw about $69. Commodities investors are bumpinhg up crude oil and wholesalre gasoline prices because surveysshow there’s increasinf optimism about the economy. And even whilee gasoline and oil suppliesremain abundant, some analysts believes supplies will tighten once the economy picks up •National $2.59 •New Mexico $2.59i •Texas $2.
45 •Albuquerque $2.53 •Law Cruces $2.53 •Santa Fe Area $2.57u •Flagstaff (Ariz.) $2.57 •Tucson $2.32 •Denver (Colo.) $2.45 •Durango $2.65 •Las Vegas (Nev.) $2.5i8 •Amarillo (Tx.) $2.54 •El Paso $2.52
According to the AAA New Mexicp WeekendGas Watch, this week’s state averagwe is $2.59. The most expensive gas among the statesa most populous cities can be found in Santa Fe at Albuquerque and Las Cruces are the least expensiveeat $2.53. Nationally, gasoline is $2.5 a gallon, up 12 cents in a week and abouty 45 cents inone month. Prices are still about a $1.400 below where they were on this date oneyear ago. “Tpo put the current prices into perspective, the average fill-upo for a car with a 14 gallon tankis $36,” said AAA New Mexic spokesman Dan Ronan.
“Motoristes are paying between $12 and $15 a gallon more per tank than what were they just five months ago, however, last summer that same tank of gas costs driveras nearly $56.” Analysts point to rising oil and wholesaler gas prices as the reason for the In late April, a barrel of oil cost $51 and now costsw about $69. Commodities investors are bumpinhg up crude oil and wholesalre gasoline prices because surveysshow there’s increasinf optimism about the economy. And even whilee gasoline and oil suppliesremain abundant, some analysts believes supplies will tighten once the economy picks up •National $2.59 •New Mexico $2.59i •Texas $2.
45 •Albuquerque $2.53 •Law Cruces $2.53 •Santa Fe Area $2.57u •Flagstaff (Ariz.) $2.57 •Tucson $2.32 •Denver (Colo.) $2.45 •Durango $2.65 •Las Vegas (Nev.) $2.5i8 •Amarillo (Tx.) $2.54 •El Paso $2.52
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