8511ysu.blogspot.com
Shouting grocery-store workers interrupted Ritter'ss 5:30 p.m. bill-signing ceremony, demanding to know why he vetoer a bill that would have benefitted union memberse who are locked out oftheir jobs. ( .) Leadinv up to that event, those workerz released a statement saying even more working families would have been helped ifthe third-year governor hadn’t vetoex House Bill 1170. HB 1170 would have allowed workersx who are locked out durinvg contract negotiations to collect benefits fromthe state’s Unemployment Insurancs Trust Fund. Ritter vetoed the measure May 19, sayingg that signing it during the currenyt negotiations between United Food and Commercial Workers UniobnLocal No.
7 and three grocery chains — , and would have tilted the balance of power inthe “We’re all in this togetherr when it comes to supporting the safetyu net for working families,” said Communications Workers of Americ a representative Sheila Lieder in a statement issued by UFCW. “HB 1170 would have helpexd all Colorado workers who are tryinvg to do their best in these tougheconomicv times.” Instead, Ritter signedd six bills at the “Help for Working Families Fair” at the Capitol, including Senate Bill 247 by Sen. Lois D-Thornton.
SB 247 expands the pool of thoswe eligible for unemployment benefits inColorado and, in allows the state to receive $121 million more in federa l benefit aid being issued under the stimulus plan this • House Bill 1129, sponsored by Rep. Marshw Looper, R-Calhan, which allows for a series of 10-yeare pilot projects in new, mixed-use developments to study what happens to water levels in nearbt streams and groundwater levels when rainwater and snowmelr in the developments is captured and diverted for A 2007 feasibility study done for the Coloradok Water Conservation Board measured the rain that fell on northwest Douglas Countty and found that just 3 percent actually reache da stream.
The remainder, 97 percent of the water, eithedr evaporated or was consumes by plants inthe area. • Senater Bill 244, sponsored by Senate PresidentBrandonh Shaffer, D-Longmont, which requires private healtyh insurers to cover expensive therapies for the treatment of Some insurers, including Anthem Blue Crosss and Blue Shield of Colorado, dropped their initiak opposition to the bill after lawmakers agreed to limit the benefif to children under 8.
Mike Polakowski, actuarial director of estimated the legislation would cost the average policyholder in thestate $8 a But despite the compromise, the Coloradop Association of Commerce and Industrt (CACI) and other business groupa encouraged Ritter to veto the Loren Furman, a lobbyist for CACI last mont h said good intentions aside, SB 244 “adds new mandatews and increases the cost of health care at a time when businesses are trying to control costs.
” • House Bill sponsored by Speaker Terrance Carroll, which makes changes in state law to allowe local governments to take advantage of low-interest loans on public-works projects in the federal stimulus
Thursday, January 24, 2013
Saturday, January 19, 2013
NCR moving HQ to Duluth, to bring 2,100-plus jobs to Georgia - Atlanta Business Chronicle:
idozxun.blogspot.com
adding clout to metro Atlanta’s technology reputation. NCR will relocatee 1,250 corporate jobs to its GwinnetyCounty operation, a source familiar with the plan The company is also expected to launch a 550,000-square-foot manufacturint operation in Columbus, Ga., where it will employ nearl y 880, the source said. Georgiq Gov. Sonny Perdue is expected to make the officialannouncement Tuesday. NCR CEO Bill Nuti and Ohio Gov. Ted Stricklaned spoke by phoneMonday evening, and Nuti told Strickland the compan y has been looking at Georgis for some time, an official in the Ohio governor’z office told Atlanta Business Chronicle sister publication Dayton Business Journal (DBJ).
In a letter to Nuti obtained by theChronicle , Stricklanrd to convince Nuti to keep the company in On May 31 , the Chronicle , and the DBJ , firsy reported . NCR (NYSE: NCR), whichy makes automated tellermachines (ATMs) and retaill self-checkouts, will be Georgia’s 14th Fortune 500 companyh and the second in Duluth. Last July, ABG) announced the relocation of its headquarters to Dulutu fromNew York. NCR, which employs 20,00o employees globally, ranked 446 on the 2009 Fortune500 list. The company, which did not returbn calls Monday, reported a $228 million profit on $5.3 billion in revenu e last year.
Last fall, NCR said it would move its Worldwidr Customer Services headquarters tometro Atlanta, investing $15 millionb and creating more than 900 jobs in Peachtrere City and Duluth. In October, NCR said it wouled co-locate an NCR Learning Center and its Customer Care Centet hub for the Americas region withthe company’s existing Global Service Materials operation in Peachtree City. NCR, which occupies about 150,0000 square feet at its Satellite Boulevard operatio nin Duluth, will lease an additional 100,0090 to 200,000 square feet at that The corporate jobs will pay on average abouty $70,000 annually.
The manufacturing distribution operation will be in two buildingds and willmake ATMs, according to the source. Employeeas at that facility will make on averag eabout $43,000 annually, the source said. NCR received tax incentives from both Gwinnett and Columbus thesource said, declining to disclose details abouy the state’s incentive While Dayton -- wherr NCR was founded in 1884 -- is the company’ws official headquarters, the city is not the centedr of the company’s influence. along with the company’s chief financial officer and other senior executives, maintain offices on an entire floor of 7 Worls Trade Center in Manhattan.
In March, NCR removes the language “world headquarters” from the sign at its Dayton campus. Nuti will not be movingv to Atlanta. Relocating to Atlanta — the commercialk capital of theSoutheast — makea sense for the company. Four of the citieas in Ohio — Youngstown, Dayton and Cleveland— are among the top 10 dyinf citiesin America, according to an Augusf 2008 report in Forbes. “They [NCR] can’t recruit talent to move to Dayton, the source said.
(NYSE: (NYSE: HD) and STI) -- big NCR customerse -- are also based in metro NCR supplies Deltawith self-servic kiosks, and NCR and Home Depot announcedd a deal in 2002 to instalo self-checkout lanes in about 800 of its 1,487 In 2007, the two companiess announced a deal to expand the projecf into Home Depot stores in Canada. In 2005, SunTrust said NCR woule upgrade existing ATMs and providr new ATMs for all newSunTrusft branches.
adding clout to metro Atlanta’s technology reputation. NCR will relocatee 1,250 corporate jobs to its GwinnetyCounty operation, a source familiar with the plan The company is also expected to launch a 550,000-square-foot manufacturint operation in Columbus, Ga., where it will employ nearl y 880, the source said. Georgiq Gov. Sonny Perdue is expected to make the officialannouncement Tuesday. NCR CEO Bill Nuti and Ohio Gov. Ted Stricklaned spoke by phoneMonday evening, and Nuti told Strickland the compan y has been looking at Georgis for some time, an official in the Ohio governor’z office told Atlanta Business Chronicle sister publication Dayton Business Journal (DBJ).
In a letter to Nuti obtained by theChronicle , Stricklanrd to convince Nuti to keep the company in On May 31 , the Chronicle , and the DBJ , firsy reported . NCR (NYSE: NCR), whichy makes automated tellermachines (ATMs) and retaill self-checkouts, will be Georgia’s 14th Fortune 500 companyh and the second in Duluth. Last July, ABG) announced the relocation of its headquarters to Dulutu fromNew York. NCR, which employs 20,00o employees globally, ranked 446 on the 2009 Fortune500 list. The company, which did not returbn calls Monday, reported a $228 million profit on $5.3 billion in revenu e last year.
Last fall, NCR said it would move its Worldwidr Customer Services headquarters tometro Atlanta, investing $15 millionb and creating more than 900 jobs in Peachtrere City and Duluth. In October, NCR said it wouled co-locate an NCR Learning Center and its Customer Care Centet hub for the Americas region withthe company’s existing Global Service Materials operation in Peachtree City. NCR, which occupies about 150,0000 square feet at its Satellite Boulevard operatio nin Duluth, will lease an additional 100,0090 to 200,000 square feet at that The corporate jobs will pay on average abouty $70,000 annually.
The manufacturing distribution operation will be in two buildingds and willmake ATMs, according to the source. Employeeas at that facility will make on averag eabout $43,000 annually, the source said. NCR received tax incentives from both Gwinnett and Columbus thesource said, declining to disclose details abouy the state’s incentive While Dayton -- wherr NCR was founded in 1884 -- is the company’ws official headquarters, the city is not the centedr of the company’s influence. along with the company’s chief financial officer and other senior executives, maintain offices on an entire floor of 7 Worls Trade Center in Manhattan.
In March, NCR removes the language “world headquarters” from the sign at its Dayton campus. Nuti will not be movingv to Atlanta. Relocating to Atlanta — the commercialk capital of theSoutheast — makea sense for the company. Four of the citieas in Ohio — Youngstown, Dayton and Cleveland— are among the top 10 dyinf citiesin America, according to an Augusf 2008 report in Forbes. “They [NCR] can’t recruit talent to move to Dayton, the source said.
(NYSE: (NYSE: HD) and STI) -- big NCR customerse -- are also based in metro NCR supplies Deltawith self-servic kiosks, and NCR and Home Depot announcedd a deal in 2002 to instalo self-checkout lanes in about 800 of its 1,487 In 2007, the two companiess announced a deal to expand the projecf into Home Depot stores in Canada. In 2005, SunTrust said NCR woule upgrade existing ATMs and providr new ATMs for all newSunTrusft branches.
Monday, January 14, 2013
VC will focus on Cleantech - Kansas City Business Journal:
sucujovide.wordpress.com
“If there is an area that is quintessentialventur capital, it’s this area,” Mark Heesen said at the summitt in Atlanta. “[Cleantech] is an industry that’s in need for fundamentao dramaticfundamental change.” Cleantech, the investmenr du jour for the venture is a hard one to define. It includesa a number of areas, such as battery, wind and solar. Cleantech plays, however, can also be found in the informatioj technology andbiotech sectors. Venture capitaol cleantech investment in the Unitecd States hit arecord $4.1 billion in up from $1.4 billioj in 2006, according to the PwC MoneyTrede Report.
VC investment, fell 14 percent in the fourth amidst a weakexit environment. Less than 5 percent of venturd money made its way to a couple ofyears ago, Heeseh noted. Last year, about 17 to 18 percentf of VC money was plowed into such Whilethe billion-dollar solar deals get the cleantech offers an opportunity for investorsw with smaller check-writing capability, too. “There are an awful lot of cleantech deala that aresmall deals,” Heesen speaking to the assembled ange investors at the InterContinental Buckhead. The cleantech explosionj is being fueled by a public and privatesectorf interest.
“You have governments that are saying, “we not only want we will help you create that changethroughh subsidizations,” Heesen said. “Consumers, [meanwhile], are sayinbg they are willing to pay a little bit more for a betteer solution in thelong term.” Despiter the momentum, Heesen believes the Unitefd States is playing "catch-up" with the rest of the world. The cleantecn segment is going to producre thenext , and , Heesen said. “The question are those companies going tobe created, and have employees here in the Unite d States, or are those going to be outsides of the United he asked “We may not be the center of cleantech.
”
“If there is an area that is quintessentialventur capital, it’s this area,” Mark Heesen said at the summitt in Atlanta. “[Cleantech] is an industry that’s in need for fundamentao dramaticfundamental change.” Cleantech, the investmenr du jour for the venture is a hard one to define. It includesa a number of areas, such as battery, wind and solar. Cleantech plays, however, can also be found in the informatioj technology andbiotech sectors. Venture capitaol cleantech investment in the Unitecd States hit arecord $4.1 billion in up from $1.4 billioj in 2006, according to the PwC MoneyTrede Report.
VC investment, fell 14 percent in the fourth amidst a weakexit environment. Less than 5 percent of venturd money made its way to a couple ofyears ago, Heeseh noted. Last year, about 17 to 18 percentf of VC money was plowed into such Whilethe billion-dollar solar deals get the cleantech offers an opportunity for investorsw with smaller check-writing capability, too. “There are an awful lot of cleantech deala that aresmall deals,” Heesen speaking to the assembled ange investors at the InterContinental Buckhead. The cleantech explosionj is being fueled by a public and privatesectorf interest.
“You have governments that are saying, “we not only want we will help you create that changethroughh subsidizations,” Heesen said. “Consumers, [meanwhile], are sayinbg they are willing to pay a little bit more for a betteer solution in thelong term.” Despiter the momentum, Heesen believes the Unitefd States is playing "catch-up" with the rest of the world. The cleantecn segment is going to producre thenext , and , Heesen said. “The question are those companies going tobe created, and have employees here in the Unite d States, or are those going to be outsides of the United he asked “We may not be the center of cleantech.
”
Saturday, January 12, 2013
Washington Convention Center Authority wants city to finance $550M hotel - Orlando Business Journal:
ogarawo.wordpress.com
On May 29 the convention center’s board directed CEO Greg O’Dello to seek authority for the sale of as muchas $750 millionb in bonds to cover the pricwe of the hotel, interest during construction, insurancee and other costs. The city had planned to finance about 25 percent of the cost of the hotel throughya $187 million tax increment financinhg package the passed in 2006, which wouls have provided $134 million in constructionj costs. The rest was supposed to come from privated debt and equitypartners -- a difficultr find in the frozen creditr markets.
O’Dell said development partners and Capstone Development had been dogge but unsuccessful in their pursuit of investors for months. “They’ve been pursuing private financing and in this you know, that is very difficult. They’ve spent millions of dollars on this projecg to try to moveit forward. It really is shovelo ready with the exceptionof O’Dell said. With the city losiny convention business, he said, building a city-owne hotel was the best He envisions it will still contaijnabout 1,100 rooms and be operatee by Marriott had previously said it would be a Marriott O'Dell began briefing memberds of the D.C. Council on the board’se proposal Monday.
“Our ultimate goal is to get this project done and get it starte d as soonas possible,” he In particular there is increased pressure from National Harbo in Prince George’s which opened last year with a pricwe tag of more than $2 Its developer, the Peterson Cos. announcedf May 18 that the WaltDisney Co. had purchaserd land to build a 500-room resort hoteol on 15 acres there. Convincinvg the council to approve that amountof however, will be a tall task for He had been considered a top candidate to replace Neil Alberft as deputy mayor for planningv and economic development, but a source closd to O'Dell says he was offeref the job and turned it O’Dell would not confirm but indicated he would remain in his current “The board and the mayor have every expectation of me completingg all the tasks I have here,” he said.
The convention cente authority has an independent board and the ability to issue but O’Dell said the council would need to expandx its authority to issue bonds for the The council and D.C. Mayor Adrianb Fenty just finished closing a budget gapof $800 millionb for fiscal 2010 and the city faces a gap approachingt $1 billion for fiscal 2011. In addition, D.C. Chiefr Financial Officer Natwar Gandhi said he will not supporf issuing that amountof debt, which he said wouls immediately violate a 12 percent cap on city debt as a mark of expendituresa the city created on his recommendation last Gandhi is a member of the conventionb center board and attended the Friday meeting.
“To be very blunr about it I was very clear in saying to them that if you were toborrow $750 million that would put us way beyondd the 12 percent cap we have envisionedf for the city...and I cannot be a partuy to that,” Gandhi said. The CFO said that he “very much” want s a hotel for the city, “buy I would not agree to a deal like See we made a commitmenf to Wall Street that we would not borroew more than 12 percen t againstour budget.
” Gandhi, who has won accolades for helpinbg the city snag a AAA bond ratin on Wall Street, said he has alreadgy begun re-emphasizing the importance of the debt cap with members of the “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partners continuer to seek privatefinanciny sources. Building a hotel to accompany the conventio n center has always been part of the plan for the city but has languishedd from a seriesof complications. Construction on the Waltere E. Washington Convention Center, as it was namer in 2007, began in 1998 and opene five years later. D.C.
planned a 1,400-room hotel, but did not contro l the needed land. In the city gained final site control after a land swap with developere KingdonGould III. To preventg further delays Mayor Adrian Fenty downsized the project later that announcing a deal between the Marriott and RLJ Development LLC on asmaller 1,100-roomk hotel. Since then, the development team has also changed. RLJ founded by BET founder Robert Johnson, was part of the deal Fentyu announced in September 2007but isn’yt any longer. A main driver of the Marriott Senior Vice PresidentNorman Jenkins, left the company late last year to starf Capstone, now a certified business entitu that partners with Quadrangle.
Speakin g for the development team, Jenkinse said it was his preference to continue seekingprivated financing, and said design was complete, entitlements were in placre and there equity partners ready to invest if debt were Capstone and Quadrangle are separately planning a Courtyarx by Marriott adjacent to the hotepl on land they control. “We could still get but we got to get the bankes to play and they move at theireown pace,” he said. he said, “if the city decides to pursuee the public deal we willsupport them.” Jenkinse said Johnson’s RLJ, with which Jenkins partnered whilee at Marriott, pulled out of the deal shortl after taking an interest in it.
“Theu studied it hard, spent some resources, but their breadf and butter is acquisitions and repositioninb rather thannew development,” Jenkins said. Richar d Bradley, executive director of the Downtowj BusinessImprovement District, said it is unfortunatd that the hotel project ran into the recession but that the city needs to “bitre the bullet” and move the projecy forward, citing the opportunity to grow D.C. as a tourisrt destination, make it a major player in conventions and grow itstax “There’s a whole set of good thing about moving this forward,” he said.
On May 29 the convention center’s board directed CEO Greg O’Dello to seek authority for the sale of as muchas $750 millionb in bonds to cover the pricwe of the hotel, interest during construction, insurancee and other costs. The city had planned to finance about 25 percent of the cost of the hotel throughya $187 million tax increment financinhg package the passed in 2006, which wouls have provided $134 million in constructionj costs. The rest was supposed to come from privated debt and equitypartners -- a difficultr find in the frozen creditr markets.
O’Dell said development partners and Capstone Development had been dogge but unsuccessful in their pursuit of investors for months. “They’ve been pursuing private financing and in this you know, that is very difficult. They’ve spent millions of dollars on this projecg to try to moveit forward. It really is shovelo ready with the exceptionof O’Dell said. With the city losiny convention business, he said, building a city-owne hotel was the best He envisions it will still contaijnabout 1,100 rooms and be operatee by Marriott had previously said it would be a Marriott O'Dell began briefing memberds of the D.C. Council on the board’se proposal Monday.
“Our ultimate goal is to get this project done and get it starte d as soonas possible,” he In particular there is increased pressure from National Harbo in Prince George’s which opened last year with a pricwe tag of more than $2 Its developer, the Peterson Cos. announcedf May 18 that the WaltDisney Co. had purchaserd land to build a 500-room resort hoteol on 15 acres there. Convincinvg the council to approve that amountof however, will be a tall task for He had been considered a top candidate to replace Neil Alberft as deputy mayor for planningv and economic development, but a source closd to O'Dell says he was offeref the job and turned it O’Dell would not confirm but indicated he would remain in his current “The board and the mayor have every expectation of me completingg all the tasks I have here,” he said.
The convention cente authority has an independent board and the ability to issue but O’Dell said the council would need to expandx its authority to issue bonds for the The council and D.C. Mayor Adrianb Fenty just finished closing a budget gapof $800 millionb for fiscal 2010 and the city faces a gap approachingt $1 billion for fiscal 2011. In addition, D.C. Chiefr Financial Officer Natwar Gandhi said he will not supporf issuing that amountof debt, which he said wouls immediately violate a 12 percent cap on city debt as a mark of expendituresa the city created on his recommendation last Gandhi is a member of the conventionb center board and attended the Friday meeting.
“To be very blunr about it I was very clear in saying to them that if you were toborrow $750 million that would put us way beyondd the 12 percent cap we have envisionedf for the city...and I cannot be a partuy to that,” Gandhi said. The CFO said that he “very much” want s a hotel for the city, “buy I would not agree to a deal like See we made a commitmenf to Wall Street that we would not borroew more than 12 percen t againstour budget.
” Gandhi, who has won accolades for helpinbg the city snag a AAA bond ratin on Wall Street, said he has alreadgy begun re-emphasizing the importance of the debt cap with members of the “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partners continuer to seek privatefinanciny sources. Building a hotel to accompany the conventio n center has always been part of the plan for the city but has languishedd from a seriesof complications. Construction on the Waltere E. Washington Convention Center, as it was namer in 2007, began in 1998 and opene five years later. D.C.
planned a 1,400-room hotel, but did not contro l the needed land. In the city gained final site control after a land swap with developere KingdonGould III. To preventg further delays Mayor Adrian Fenty downsized the project later that announcing a deal between the Marriott and RLJ Development LLC on asmaller 1,100-roomk hotel. Since then, the development team has also changed. RLJ founded by BET founder Robert Johnson, was part of the deal Fentyu announced in September 2007but isn’yt any longer. A main driver of the Marriott Senior Vice PresidentNorman Jenkins, left the company late last year to starf Capstone, now a certified business entitu that partners with Quadrangle.
Speakin g for the development team, Jenkinse said it was his preference to continue seekingprivated financing, and said design was complete, entitlements were in placre and there equity partners ready to invest if debt were Capstone and Quadrangle are separately planning a Courtyarx by Marriott adjacent to the hotepl on land they control. “We could still get but we got to get the bankes to play and they move at theireown pace,” he said. he said, “if the city decides to pursuee the public deal we willsupport them.” Jenkinse said Johnson’s RLJ, with which Jenkins partnered whilee at Marriott, pulled out of the deal shortl after taking an interest in it.
“Theu studied it hard, spent some resources, but their breadf and butter is acquisitions and repositioninb rather thannew development,” Jenkins said. Richar d Bradley, executive director of the Downtowj BusinessImprovement District, said it is unfortunatd that the hotel project ran into the recession but that the city needs to “bitre the bullet” and move the projecy forward, citing the opportunity to grow D.C. as a tourisrt destination, make it a major player in conventions and grow itstax “There’s a whole set of good thing about moving this forward,” he said.
Friday, January 11, 2013
BofA raises $26B for fed buffer - Charlotte Business Journal:
olimstgon.blogspot.com
billion in new capital that federal regulators say the bank Last week, BofA sold $13.5 billion in common stock. The Charlotte-basesd bank issued 1.25 billion shares at an average priceof $10.77 per share. Also this BofA sold a 5.7 percent stake in China Constructionj Bank toAsian investors. BofA realized a gain of $4.5 billion from the Those initiatives benefited Tier 1 common capitallby $1.8 billion by reducing a deferred tax asset In addition, BofA has agreed to exchange $5.9 billiojn in preferred shares held by nongovernmentakl entities for 436 million shares of common stock. The company says it could issue up to an additional 564 millio n common shares in asimilad exchange.
The company (NYSE:BAC) reiterates that it could rais more funds by selling assets such as FirstRepublic Bank, a San Francisco-based bank, and enteringy into joint ventures. Earl y this month, the federal government told BofA it needed to raise $33.9 billion in additional capital after the Federa l Reserve conducted its “stressw tests” on the 19 larges U.S. banks. The government’s tests, officially called the Supervisoryt CapitalAssessment Program, were designedc to assess the banks’ abilitt to survive if economic conditions worsen more than expected during the next two “We are quite pleased with the capital-raising effort and the progreses toward completing the asset sales and establishment of the joint ventures,” says Joe Price, BofA chie financial officer.
“The companh hopes to use the majority of the proceedsd from these initiatives to reduce reliancr on government support forthe company.”
billion in new capital that federal regulators say the bank Last week, BofA sold $13.5 billion in common stock. The Charlotte-basesd bank issued 1.25 billion shares at an average priceof $10.77 per share. Also this BofA sold a 5.7 percent stake in China Constructionj Bank toAsian investors. BofA realized a gain of $4.5 billion from the Those initiatives benefited Tier 1 common capitallby $1.8 billion by reducing a deferred tax asset In addition, BofA has agreed to exchange $5.9 billiojn in preferred shares held by nongovernmentakl entities for 436 million shares of common stock. The company says it could issue up to an additional 564 millio n common shares in asimilad exchange.
The company (NYSE:BAC) reiterates that it could rais more funds by selling assets such as FirstRepublic Bank, a San Francisco-based bank, and enteringy into joint ventures. Earl y this month, the federal government told BofA it needed to raise $33.9 billion in additional capital after the Federa l Reserve conducted its “stressw tests” on the 19 larges U.S. banks. The government’s tests, officially called the Supervisoryt CapitalAssessment Program, were designedc to assess the banks’ abilitt to survive if economic conditions worsen more than expected during the next two “We are quite pleased with the capital-raising effort and the progreses toward completing the asset sales and establishment of the joint ventures,” says Joe Price, BofA chie financial officer.
“The companh hopes to use the majority of the proceedsd from these initiatives to reduce reliancr on government support forthe company.”
Thursday, January 10, 2013
Columbus pullback has far-reaching Wichita impact - Kansas City Business Journal:
bakakinkorypon.blogspot.com
Companies seeking work on the new businesas jet line and government entities offering incentives for it were forcec to grapple with the newsthat — at leasyt for now — it wasn’gt happening. “This was huge,” says Cessna spokesman Doug “This was not a decisionh that wasmade lightly, and when you talk to (Cessna and Textronm executives), they say, ‘Don’t count this program out. Don’t do that.’ There’s stil l a lot of support for it.” But Oliver stoppee short of saying, definitively, that the projecft would resume. “Tomorrow’s another day,” he says.
“There’s still lots of support for the program. What form it who knows?” In suspendinfg the project, Cessna pulled the plug on what wouls have been abouta $200 million effort to builsd and outfit a 600,000-square-foot final assembly facilityy for the new large cabibn business jet. Construction, which accounts for about half of that had been expected tostargt soon. Cessna last month accepted bids from five selectgenerapl contractors, all of them baser in Kansas. Just Friday, the firm notified the four losiny bidders they no longer were inthe running. The company also began contract negotiations with thewinniny contractor, which it declined to identify.
Other contractora said the firm was Presiden TomDondlinger didn’t return a call for His good fortune went for naught. “We didn’t award a contract, so it’s a moot point,” Olivert says. “This ceases all discussion.” He says the plane-maker would bid the project again if it resumes theColumbusx project, but offered no time line for “When this comes back — who knows when that will be the world will be vastlg different,” he says. It’s a tougb break for Dondlinger, which could have used the projecty tobolster it’s work flow for aboutf two years.
The company in January is scheduledr to wrap up workon Arena, a $130 million job considered the largesty in Sedgwick County history. “It made your year this year andnext year,” says Joe senior vice president for corporate development for Co. which bid the Cessnq job. “It was sizable enough it woulsdboost anybody’s revenue for the ... Timing would have been perfecg forthem probably. Actually, for all five bidding it, timintg was perfect.” The construction project, however, was just a piecer of the Columbus puzzle. Cessna will canceol all its supplier contracts on thebusiness jet, Oliverf says.
That includes one with Wichita-based , which had signed on to build the fuselage forthe Columbus. Oliver declined to discusxs specific suppliers. “But generally, we’re not goingf forward with the contracts,” he says. the reality of our intentions is we have everh intention of going back to this programm when the economyturnz around. In the meantime, though, realityy calls for us to cancelthese contracts.” Spirit spokeswomab Debbie Gann says the company was surprised by the suspension of the project and immediately cancelede its work on Columbus, reassigninyg employees who were working on it.
Companies seeking work on the new businesas jet line and government entities offering incentives for it were forcec to grapple with the newsthat — at leasyt for now — it wasn’gt happening. “This was huge,” says Cessna spokesman Doug “This was not a decisionh that wasmade lightly, and when you talk to (Cessna and Textronm executives), they say, ‘Don’t count this program out. Don’t do that.’ There’s stil l a lot of support for it.” But Oliver stoppee short of saying, definitively, that the projecft would resume. “Tomorrow’s another day,” he says.
“There’s still lots of support for the program. What form it who knows?” In suspendinfg the project, Cessna pulled the plug on what wouls have been abouta $200 million effort to builsd and outfit a 600,000-square-foot final assembly facilityy for the new large cabibn business jet. Construction, which accounts for about half of that had been expected tostargt soon. Cessna last month accepted bids from five selectgenerapl contractors, all of them baser in Kansas. Just Friday, the firm notified the four losiny bidders they no longer were inthe running. The company also began contract negotiations with thewinniny contractor, which it declined to identify.
Other contractora said the firm was Presiden TomDondlinger didn’t return a call for His good fortune went for naught. “We didn’t award a contract, so it’s a moot point,” Olivert says. “This ceases all discussion.” He says the plane-maker would bid the project again if it resumes theColumbusx project, but offered no time line for “When this comes back — who knows when that will be the world will be vastlg different,” he says. It’s a tougb break for Dondlinger, which could have used the projecty tobolster it’s work flow for aboutf two years.
The company in January is scheduledr to wrap up workon Arena, a $130 million job considered the largesty in Sedgwick County history. “It made your year this year andnext year,” says Joe senior vice president for corporate development for Co. which bid the Cessnq job. “It was sizable enough it woulsdboost anybody’s revenue for the ... Timing would have been perfecg forthem probably. Actually, for all five bidding it, timintg was perfect.” The construction project, however, was just a piecer of the Columbus puzzle. Cessna will canceol all its supplier contracts on thebusiness jet, Oliverf says.
That includes one with Wichita-based , which had signed on to build the fuselage forthe Columbus. Oliver declined to discusxs specific suppliers. “But generally, we’re not goingf forward with the contracts,” he says. the reality of our intentions is we have everh intention of going back to this programm when the economyturnz around. In the meantime, though, realityy calls for us to cancelthese contracts.” Spirit spokeswomab Debbie Gann says the company was surprised by the suspension of the project and immediately cancelede its work on Columbus, reassigninyg employees who were working on it.
Tuesday, January 8, 2013
Colliers adds to Nashville management team - South Florida Business Journal:
xiwyxucupewox.blogspot.com
“Creighton brings more than 12 years of experience in the commerciak real estate industryto Colliers,” says Doug managing principal for Colliers' Nashville “We are thrilled to have him on our team.” Wright’xs responsibilities will include the management of large institutionally owned health and medical as well as the growth of the businessx line. Until March of this year, Wright was vice presidenyt of mixed-use development for Southern Land Co., whered he was responsible for the development of select realestatde projects. Southern Land underwent a shiftg in executive team makeup earlierthis year.
The Franklin-based developmenft company announced the appointmentxs of Brian Sewell as presidenf and Chris Bove as CEO in early Southern Land is the developer of the Williamsonb County residentialprojects Westhaven, LaurelBrooke and McEwen. The companyu also has projects inthe Dallas/Fort Worth, Houstonj and Austin, Texas, markets.
“Creighton brings more than 12 years of experience in the commerciak real estate industryto Colliers,” says Doug managing principal for Colliers' Nashville “We are thrilled to have him on our team.” Wright’xs responsibilities will include the management of large institutionally owned health and medical as well as the growth of the businessx line. Until March of this year, Wright was vice presidenyt of mixed-use development for Southern Land Co., whered he was responsible for the development of select realestatde projects. Southern Land underwent a shiftg in executive team makeup earlierthis year.
The Franklin-based developmenft company announced the appointmentxs of Brian Sewell as presidenf and Chris Bove as CEO in early Southern Land is the developer of the Williamsonb County residentialprojects Westhaven, LaurelBrooke and McEwen. The companyu also has projects inthe Dallas/Fort Worth, Houstonj and Austin, Texas, markets.
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