omagyvoham.wordpress.com
Condé Nast Portfolio magazinew and its Website Portfolio.com, launcheed in April 2007 and the magazine closed this April. The site provideas insight into topbusiness stories, with analysizs from bloggers and columnists. Charlotte, N.C.-based ACBJ and New York-based Nast are both owned by New York-basee . The site will offer newlyy created content and tap intoother Condé Nast sited such as Wired.com, GolfDigest.com and WWD.com. Portfolio.com also will work with the Phoenicx newspaper and other ACBJ newsrooms acrossthe “We believe our readers will benefit as the re-launched Portfolio.
co will have a stronger focus on industr news and a greater mission to offerd information relevant to today’s business professionals,” said Tim Bradbury, president of new mediaq for . David Carey, group president for Condé Nast, callesd ACBJ “a perfect match due to its great editorial resourcesx in thebusiness arena.” During its two yeard Portfolio.com grew to 2.8 million monthly uniques and won awarde such as MIN: Best of Web Award 2008, MIN: Hottesft Launch of the Year 2007, WebAward: Outstanding Achievemeny in Website Development 2007, and Webby nominations in Best Business blog and Financial Servicea categories.
Friday, December 30, 2011
Tuesday, December 27, 2011
States lax in regulating cosmetic surgery - USA TODAY
gardellaorymiid1354.blogspot.com
USA TODAY | States lax in regulating cosmetic surgery USA TODAY By Jayne O'Donnell, USA TODAY Only 21 states require the accreditation or licensing of offices where doctors perform surgery. Offices that are accredited or licensed must have certain life-saving emergency equipment and drugs, adhere to strict safety ... |
Sunday, December 25, 2011
Saudi firm buys farmland in Argentina to secure animal feed - USA TODAY
ymekovo.wordpress.com
USA TODAY | Saudi firm buys farmland in Argentina to secure animal feed USA TODAY By Alejandro Pagni, AFP/Getty Images Argentina's President Cristina Fernandez de Kirchner speaks at her inauguration in Buenos Aires Dec. 10, 2011. By Alejandro Pagni, AFP/Getty Images Argentina's President Cristina Fernandez de Kirchner speaks at her ... Argentina Fences Off Land to Foreign Buyers |
Friday, December 23, 2011
Tesla co-founder Eberhard sues CEO Musk - Silicon Valley / San Jose Business Journal:
ocybakenos.wordpress.com
Eberhard sued Musk on May 26 in San Mateko CountySuperior Court, claiming libel, slander and breacnh of contract in connection with his oustedr from the company in 2007. Eberhard in the lawsuiy claims he was forced out of the company he helped to starg and was then denied the severancwe his contractcalled for. He furthee claims that Musk disparaged him publiclty and accuses the CEO of tryinyto "rewrite history" by taking creditf for the company's electric Roadster. Among othet claims made in the lawsuit, Eberhar d accuses the companyof "destroying" the Tesla Roadsted that was to be delivered to him.
Teslaz said its momentum and business strategh are unaffected by the lawsuit and it will likely file counterclaimxsin court. "This lawsuit is an unfairr personalattack and, more paints an inaccurate picturse of Tesla's history. It's a fictionalized accoun t of Tesla's early years it's twisted and wrong, and we welcomr the opportunity to set the record the company said ina statement. "As the mediq have already covered exhaustively, Tesla's full boars of directors unanimously fired Martibn shortly after discovering that the cost of the car was more than twicre what Martin portrayed it to be atthe time.
" A copy of the lawsuitf can be found
Eberhard sued Musk on May 26 in San Mateko CountySuperior Court, claiming libel, slander and breacnh of contract in connection with his oustedr from the company in 2007. Eberhard in the lawsuiy claims he was forced out of the company he helped to starg and was then denied the severancwe his contractcalled for. He furthee claims that Musk disparaged him publiclty and accuses the CEO of tryinyto "rewrite history" by taking creditf for the company's electric Roadster. Among othet claims made in the lawsuit, Eberhar d accuses the companyof "destroying" the Tesla Roadsted that was to be delivered to him.
Teslaz said its momentum and business strategh are unaffected by the lawsuit and it will likely file counterclaimxsin court. "This lawsuit is an unfairr personalattack and, more paints an inaccurate picturse of Tesla's history. It's a fictionalized accoun t of Tesla's early years it's twisted and wrong, and we welcomr the opportunity to set the record the company said ina statement. "As the mediq have already covered exhaustively, Tesla's full boars of directors unanimously fired Martibn shortly after discovering that the cost of the car was more than twicre what Martin portrayed it to be atthe time.
" A copy of the lawsuitf can be found
Wednesday, December 21, 2011
Gannett may make more staff cuts at newspapers, salary cuts at television stations - New Mexico Business Weekly:
elzeyfirekuut1795.blogspot.com
A report by the Gannetf Blog on Friday referencesd a memo from Gannett CFO Gracisa Martore thatprojects 4,500 newspaper layoffs throughougt the Gannett chain in July as well as a 10 percentf pay cut for its broadcast employees. The Gannett Blog reportf also says Gannett workers will not face any more furloughsxthis year. The Arizona Republid is the largest metropolita n daily inthe Va.-based Gannett chain. The Republic has already suffered through layoffs and furloughs as the newspaper industry strugglew with poor advertising numbers andonliner competition.
Gannett (NYSE: GCI) announced Monday that president and CEO Craig Dubosw will be on a temporary medical leavd of absence followingback surgery. Martorde is taking over as interimchief executive. Gannety has 41,000 employees company wide including at dailyt newspapersin Phoenix; Palm Springs, Calif.; Honolulu; Mansfield, Ohio; and Des Iowa. The media conglomerate also owns TV stationzsin Phoenix, Flagstaff, Washington Tampa and Jacksonville, Fla., and Gannett officials did not respond late Friday for a reques for comment on the Gannettg Blog report, which said the cuts wouldd come July 8.
A report by the Gannetf Blog on Friday referencesd a memo from Gannett CFO Gracisa Martore thatprojects 4,500 newspaper layoffs throughougt the Gannett chain in July as well as a 10 percentf pay cut for its broadcast employees. The Gannett Blog reportf also says Gannett workers will not face any more furloughsxthis year. The Arizona Republid is the largest metropolita n daily inthe Va.-based Gannett chain. The Republic has already suffered through layoffs and furloughs as the newspaper industry strugglew with poor advertising numbers andonliner competition.
Gannett (NYSE: GCI) announced Monday that president and CEO Craig Dubosw will be on a temporary medical leavd of absence followingback surgery. Martorde is taking over as interimchief executive. Gannety has 41,000 employees company wide including at dailyt newspapersin Phoenix; Palm Springs, Calif.; Honolulu; Mansfield, Ohio; and Des Iowa. The media conglomerate also owns TV stationzsin Phoenix, Flagstaff, Washington Tampa and Jacksonville, Fla., and Gannett officials did not respond late Friday for a reques for comment on the Gannettg Blog report, which said the cuts wouldd come July 8.
Monday, December 19, 2011
French grab unpublished Charlotte Brontë manuscript with £690850 auction bid - Telegraph.co.uk
utyziluz.wordpress.com
Telegraph.co.uk | French grab unpublished Charlotte Brontë manuscript with £690850 auction bid Telegraph.co.uk An unpublished Charlotte Bronte manuscript has been snapped up by the French under the noses of a British museum after they paid a record £690850 for it at auction. Minor masterpiece: Written when Charlotte Brontë was 14, and dated 1830, ... Miniature Bronte manuscript sparks bidding war Paris museum snaps up Bronte manuscript for $1.1 mln Charlotte Bronte manuscript sets record at auction |
Friday, December 16, 2011
VC investment slows - South Florida Business Journal:
inupujyfab1211.blogspot.com
million in Florida companies duringthis year'z third quarter, the lowest dollar volume in the state sinc e 1999's first quarter, according to a surve by PricewaterhouseCoopers. survey, compiled by the accountingy and consulting firm and venture capital consultantVenture One, shower 13 Florida companies received venturre capital during the recent That averaged out to $6.9 million per investment. The recent quarter's statewide dollar total was considerablyg smaller than inthis year's second which had 12 VC deals totaling $260.7 million. The Money Tree surveyy for 2000's third quarter showed 23 Florida investmentstotaling $542.
8 million, a quarterl y dollar record for the state. This year'ds third quarter results includee five South Florida companies receivin g a totalof $29.2 million. Duringg this year's second four South Florida companiesz received venture capitaltotalingt $86.1 million. "What we saw in the last quarter is probablyt a significant indication of what is to saidPhyllis Jones, a Tampa-based Pricewaterhouse partnedr who heads the firm'ss Florida Technology Practice. "We are back to Jones said. "The boom period was just that. Historically, the third quarter (of was not bad. We didn't have monster deals closing like in thepreviouds quarters.
" The decline in technologuy stocks that began during the spring of 2000 is impactingt the flow of venture capitalk in Florida and around the country, Jonew said. During 1999 and early 2000, numerous ventures funds gave money toyoung Internet-related companiesd with a goal of gaining profits from anticipated initiak public offerings. However, those IPOs did not materialize. The lingeriny effects of this year's economic slowdown, the 11 terrorist attacks are other factors probably will keep VC deal flowat pre-19990 levels for the next several quarters, Jones Thus, for the next several quarters, it is anticipatedc the number of VC investments likelu will remain flat and there probably will be few of the $10 million-plua investments in early-stage companies that were widespread in late 1999 and last "Many venture funds are spending times advising and helpinfg to shore up their existint investments (companies)," Jones said.
"Some are saying that the secondr round is where theyare looking, but some are stilo interested in early-stage companies." The thir quarter's largest VC deal in South Florida was an $18.77 million investment received by Coordinated Care Solutionw of Coral Springs, which provided care management of high-risk, high-cost patientsx insured by HMOs, PPOs, self-insured companiesx and government-funded programs. Essex Woodlands Health Venture and Pequot Capitapl Management invested the mone y in CoordinatedCare Solutions. The fundinbg was the second round of venture capita forthe company.
Othetr South Florida companies that receive venture capital duringthis year's third quarter, according to PWC, BizProLink Network of Fort $3.2 million; Bioheart of Fort Lauderdale, $3.0 OpenClose.com of Sunrise, $2.25 million; and NetByTel of Boca $2.0 million. Through this year's first three quarters, the PWC surveys show 43 Florida companies have received venture capitaltotaling $455 That puts the state far behind last year's recore pace, when 98 Florida companies receivee $1.5 billion in venture capital.
million in Florida companies duringthis year'z third quarter, the lowest dollar volume in the state sinc e 1999's first quarter, according to a surve by PricewaterhouseCoopers. survey, compiled by the accountingy and consulting firm and venture capital consultantVenture One, shower 13 Florida companies received venturre capital during the recent That averaged out to $6.9 million per investment. The recent quarter's statewide dollar total was considerablyg smaller than inthis year's second which had 12 VC deals totaling $260.7 million. The Money Tree surveyy for 2000's third quarter showed 23 Florida investmentstotaling $542.
8 million, a quarterl y dollar record for the state. This year'ds third quarter results includee five South Florida companies receivin g a totalof $29.2 million. Duringg this year's second four South Florida companiesz received venture capitaltotalingt $86.1 million. "What we saw in the last quarter is probablyt a significant indication of what is to saidPhyllis Jones, a Tampa-based Pricewaterhouse partnedr who heads the firm'ss Florida Technology Practice. "We are back to Jones said. "The boom period was just that. Historically, the third quarter (of was not bad. We didn't have monster deals closing like in thepreviouds quarters.
" The decline in technologuy stocks that began during the spring of 2000 is impactingt the flow of venture capitalk in Florida and around the country, Jonew said. During 1999 and early 2000, numerous ventures funds gave money toyoung Internet-related companiesd with a goal of gaining profits from anticipated initiak public offerings. However, those IPOs did not materialize. The lingeriny effects of this year's economic slowdown, the 11 terrorist attacks are other factors probably will keep VC deal flowat pre-19990 levels for the next several quarters, Jones Thus, for the next several quarters, it is anticipatedc the number of VC investments likelu will remain flat and there probably will be few of the $10 million-plua investments in early-stage companies that were widespread in late 1999 and last "Many venture funds are spending times advising and helpinfg to shore up their existint investments (companies)," Jones said.
"Some are saying that the secondr round is where theyare looking, but some are stilo interested in early-stage companies." The thir quarter's largest VC deal in South Florida was an $18.77 million investment received by Coordinated Care Solutionw of Coral Springs, which provided care management of high-risk, high-cost patientsx insured by HMOs, PPOs, self-insured companiesx and government-funded programs. Essex Woodlands Health Venture and Pequot Capitapl Management invested the mone y in CoordinatedCare Solutions. The fundinbg was the second round of venture capita forthe company.
Othetr South Florida companies that receive venture capital duringthis year's third quarter, according to PWC, BizProLink Network of Fort $3.2 million; Bioheart of Fort Lauderdale, $3.0 OpenClose.com of Sunrise, $2.25 million; and NetByTel of Boca $2.0 million. Through this year's first three quarters, the PWC surveys show 43 Florida companies have received venture capitaltotaling $455 That puts the state far behind last year's recore pace, when 98 Florida companies receivee $1.5 billion in venture capital.
Wednesday, December 14, 2011
Asian Stocks Retreat Following Fed Fails to Initiate Steps to Boost Economy - Dice News
nazariomuibepu1687.blogspot.com
Asian Stocks Retreat Following Fed Fails to Initiate Steps to Boost Economy Dice News Asian Stocks (MXAP) fell for the second day, whereas, credit risk rose and oil declined following the Federal Reserve failed to take more initiatives to boost the US economy. The policy makers at Fed refused the anticipations from investors that the ... |
Monday, December 12, 2011
Naperville dentist next president of Chicago Dental Society - Chicago Sun-Times
proklofuxaanygez.blogspot.com
Naperville dentist next president of Chicago Dental Society Chicago Sun-Times John Gerding, a general dentist who has practiced in Naperville since 1981, was sworn in as president of the Chicago Dental Society at a ceremony Nov. 13 at the Four Seasons Hotel, Chicago. ... |
Saturday, December 10, 2011
Hereford House fire damage exceeds $1M - Houston Business Journal:
boyanebyboqasavo.blogspot.com
Joe Vitale, a battalion chief and publicx information officer forthe , said Monday that the KCFD receivee cell phone calls reporting an explosion and fire at the buildinf about 12:45 a.m. Monday. The KCFD dispatchec 12 to 15 pumpers, aerial ladders and other fire departmentr vehicles to the scens ofthe two-alarm Vitale said. Firefighters found heavy smoke and fire runningf laterally alongthe building’ s roof line, he said. The brick veneeer on the building’s south side had blowj off, he said, “so there was some concern aboustructural integrity.” Firefighters vented the roof and brought the fire undef control within 40 minutes, he said. No injuriea occurred.
Smoke but no fire spreac to thevacant five-story building immediatelyh to the north, Vitale said. Officials with the loca ATF office and theKCPD couldn’t immediatelyt be reached for comment. owns the restaurant and Hereforr House locationsin Independence, Leawood, Shawnee and the Northland, and Pierpont’sd at Union Station. Officials with the compan couldn’t immediately be reached for comment.
Joe Vitale, a battalion chief and publicx information officer forthe , said Monday that the KCFD receivee cell phone calls reporting an explosion and fire at the buildinf about 12:45 a.m. Monday. The KCFD dispatchec 12 to 15 pumpers, aerial ladders and other fire departmentr vehicles to the scens ofthe two-alarm Vitale said. Firefighters found heavy smoke and fire runningf laterally alongthe building’ s roof line, he said. The brick veneeer on the building’s south side had blowj off, he said, “so there was some concern aboustructural integrity.” Firefighters vented the roof and brought the fire undef control within 40 minutes, he said. No injuriea occurred.
Smoke but no fire spreac to thevacant five-story building immediatelyh to the north, Vitale said. Officials with the loca ATF office and theKCPD couldn’t immediatelyt be reached for comment. owns the restaurant and Hereforr House locationsin Independence, Leawood, Shawnee and the Northland, and Pierpont’sd at Union Station. Officials with the compan couldn’t immediately be reached for comment.
Thursday, December 8, 2011
Foreclosure brings new owner at Worthington Square - Business First of Columbus:
vishnevskiipavuh.blogspot.com
Chicago-based Inc. took control of the 170,000-square-foot mall just befor e Christmas after foreclosing on owner GE Credit then hirec to take over leasing duties from CB Richard ElliwsGroup Inc. , a Chicago assetr manager, is working with “We are sorting through the issueds and challenges firstand foremost,” Jupiter Assef Manager Jerry Ong said. “We’ll then move forward. Our vision is one that will reintroduce a tenanf mix and shopping experience we believe the people of Worthington are In the eyes of Worthington City Manager Matt the mall remains important to the communitgy and he hopes the new owner and managers will make stride at improving theshopping center.
“We look at this as potentiallyha positive,” he said. “Wr hope the new owner and property managerr will be focusedon long-term Improving tenant relations and maintenancr issues top the new owner’s to-do list. Ong knows mall merchanta have heard the revitalizationtalk before. He hopeas the initial improvements made will show consumers and the retailerxs that GE Credit intends to investy for thelong term. CB Richar d Ellis took management contropl of the mall in 2006from Cambridge, Mass.-based Carpente & Co., which had handled those dutied for four years.
It continued an $8 millionj renovation plan put in placwby Carpenter, including the demolition of a piece of the complex between the mall and a Kroger supermarket. turned the storwe into one of its three Fresh Fare grocersd inthe area. Part of the plan also includeds giving the malla Colonial-style face lift, but that nevert happened. The mall, which opened in 1972 as an open-airt shopping center and was enclosed in the early has 43retail spaces, according to its flooer plan, but just 19 tenants, though some take up more than one Recent defections have included Godfry’s Men’s Clothier, Victoria’ws Secret and Bath & Body all of which moved to storefronts at Polaris Fashionn Place.
“There are a number of high-quality currengt tenants that want to Greeson said. is one of them. Chieg Marketing Officer Chris Tomasso said sales atthe 12-year-oldx restaurant in the mall are down but he attributed that more to the economic climates than to a decline in tenantas and shoppers visiting the “We’re disappointed by the path the mall has he said. “We’ve been fortunate enough to establishu a loyal customer basethat doesn’rt really rely on the other tenants.” Improvefd contact is high on some of the lists, too.
“We didn’t feel like there was open Tomasso said of previous owners andmall “There wasn’t a lot of information coming our way abouty plans for the center.” Talbots Inc. has the biggesgt operation in the mall, accounting for four of the 19 shops. The companu shuttered its Talbots Mens and Talbotws Kids storeslast year, but that was part of a move to returh the chain to its core women’s market. Strugglintg retail centers and slow progress to second lives for the complexess have become old hat for Central Ohio The once-thriving Columbus City Center at 1.2 million square feet, will be bulldozed to make way for a downtowhn park.
A forlorn Northland Mall was demolished in 2004 to becomea mixed-use project that has been slow to develop. is seeking a partner or an outright buyer for the Westland which could see some of its building torn down with anchoe storesites redeveloped. And the Kingsdals Shopping Center in Upper Arlington is targeted to undergoa $60 million conversion into an office and retaill center. Worthington Square managers may find some helpful cues fromthe $6 milliom redevelopment of the Shops on Lane an aged shopping center that was redesignexd in 2004 after struggling with merchant The 200,000-square-foot center, like Worthingto Square Mall, is near affluent neighborhoodzs and targets predominately women Ong, a former Columbus resident who lives in thinks Worthington Square Mall can find a renewed “I remember the vitality of that he said.
“The world has changed, but that location is stillo excellent.” The retail vacancy rate for the Columbusx area rosefrom 10.6 percent to 11.2 percenr from 2007 to last year and is expecteds to surpass 12 percent for according to The retail vacancy rate for northwesrt Columbus rose to 13.3 percent in the third quarter last year, a spike from 10 percent a year earliet and the steepest jump among any area of Central
Chicago-based Inc. took control of the 170,000-square-foot mall just befor e Christmas after foreclosing on owner GE Credit then hirec to take over leasing duties from CB Richard ElliwsGroup Inc. , a Chicago assetr manager, is working with “We are sorting through the issueds and challenges firstand foremost,” Jupiter Assef Manager Jerry Ong said. “We’ll then move forward. Our vision is one that will reintroduce a tenanf mix and shopping experience we believe the people of Worthington are In the eyes of Worthington City Manager Matt the mall remains important to the communitgy and he hopes the new owner and managers will make stride at improving theshopping center.
“We look at this as potentiallyha positive,” he said. “Wr hope the new owner and property managerr will be focusedon long-term Improving tenant relations and maintenancr issues top the new owner’s to-do list. Ong knows mall merchanta have heard the revitalizationtalk before. He hopeas the initial improvements made will show consumers and the retailerxs that GE Credit intends to investy for thelong term. CB Richar d Ellis took management contropl of the mall in 2006from Cambridge, Mass.-based Carpente & Co., which had handled those dutied for four years.
It continued an $8 millionj renovation plan put in placwby Carpenter, including the demolition of a piece of the complex between the mall and a Kroger supermarket. turned the storwe into one of its three Fresh Fare grocersd inthe area. Part of the plan also includeds giving the malla Colonial-style face lift, but that nevert happened. The mall, which opened in 1972 as an open-airt shopping center and was enclosed in the early has 43retail spaces, according to its flooer plan, but just 19 tenants, though some take up more than one Recent defections have included Godfry’s Men’s Clothier, Victoria’ws Secret and Bath & Body all of which moved to storefronts at Polaris Fashionn Place.
“There are a number of high-quality currengt tenants that want to Greeson said. is one of them. Chieg Marketing Officer Chris Tomasso said sales atthe 12-year-oldx restaurant in the mall are down but he attributed that more to the economic climates than to a decline in tenantas and shoppers visiting the “We’re disappointed by the path the mall has he said. “We’ve been fortunate enough to establishu a loyal customer basethat doesn’rt really rely on the other tenants.” Improvefd contact is high on some of the lists, too.
“We didn’t feel like there was open Tomasso said of previous owners andmall “There wasn’t a lot of information coming our way abouty plans for the center.” Talbots Inc. has the biggesgt operation in the mall, accounting for four of the 19 shops. The companu shuttered its Talbots Mens and Talbotws Kids storeslast year, but that was part of a move to returh the chain to its core women’s market. Strugglintg retail centers and slow progress to second lives for the complexess have become old hat for Central Ohio The once-thriving Columbus City Center at 1.2 million square feet, will be bulldozed to make way for a downtowhn park.
A forlorn Northland Mall was demolished in 2004 to becomea mixed-use project that has been slow to develop. is seeking a partner or an outright buyer for the Westland which could see some of its building torn down with anchoe storesites redeveloped. And the Kingsdals Shopping Center in Upper Arlington is targeted to undergoa $60 million conversion into an office and retaill center. Worthington Square managers may find some helpful cues fromthe $6 milliom redevelopment of the Shops on Lane an aged shopping center that was redesignexd in 2004 after struggling with merchant The 200,000-square-foot center, like Worthingto Square Mall, is near affluent neighborhoodzs and targets predominately women Ong, a former Columbus resident who lives in thinks Worthington Square Mall can find a renewed “I remember the vitality of that he said.
“The world has changed, but that location is stillo excellent.” The retail vacancy rate for the Columbusx area rosefrom 10.6 percent to 11.2 percenr from 2007 to last year and is expecteds to surpass 12 percent for according to The retail vacancy rate for northwesrt Columbus rose to 13.3 percent in the third quarter last year, a spike from 10 percent a year earliet and the steepest jump among any area of Central
Tuesday, December 6, 2011
Pittsburgh real estate investor Bernardo Katz moves to Brazil - Pittsburgh Business Times:
houghtalingbaemo1268.blogspot.com
Pittsburgh's started foreclosure proceedings on four Beechview propertieslast month, alleginyg that Katz had fallen behindc on his loans. , based in Indiana, Pa., has initiated foreclosure on at least11 Katz-owned properties as Max Feldman, Katz's Coraopolis-based lawyer, said Katz is liviny in Rio de Janeiro and was not immediatelyh available for comment. Katz's office phone in Mounf Lebanonwas disconnected, and his cell phone would not accepft messages. Katz, a cellist by training, first came to Pittsburgh in the earlyh 1990s and began investinfg in real estatesoon afterward.
He found some especially in Mount Lebanon, where he owned a block of propertiesa on Washington Road that he developed into storezand restaurants. In 2000 and 2001, he begamn purchasing real estate in Beechview and soon ownecd much ofthe neighborhood's commercial Katz also owns real estate in Pittsburgh's Culturaol District as well as Mount Lebanon, Green Tree and otherr neighborhoods in Allegheny County. Last the URA initiated foreclosure proceedings on four propertiesx on Broadway Avenuein Beechview, which were to be the centerpieces of Katz's efforts to revitalizew the neighborhood.
"(We) are embarkingh on what is a pretty complicated andlengthy process," said Roberrt Rubinstein, director of economic developmentt at the URA. Katz received loans from the URAin 2000. And in then-state Rep. Michael Diven of Brookline pledgec state support fora $2.6 millioh complex at one of the Broadwag Avenue properties that was to be anchorede by a 10,000-square-foot senior center. Diven was defeated by Chelsa Wagnef inNovember 2006, and the statd money for the senior center projec at Katz's property fell through. In additionb to the URA-financed property, Katz owns 12 othef commercial properties in 11 of them with mortgagesfrom Indiana-based , Wagnef said.
"From my conversation with S&Tr Bank, they have moved forward with foreclosure onhis properties," Wagner adding that the foreclosure processx generally takes about three years to complete. Of 40 Katz-owned propertie s throughout thecounty -- including Downtown, Castle Shannon, Mount Lebanon, Dormont and Bethel Park -- all but four were in the procesds of foreclosure at the beginning of last according to an informal tally by Wagner' office.
Pittsburgh's started foreclosure proceedings on four Beechview propertieslast month, alleginyg that Katz had fallen behindc on his loans. , based in Indiana, Pa., has initiated foreclosure on at least11 Katz-owned properties as Max Feldman, Katz's Coraopolis-based lawyer, said Katz is liviny in Rio de Janeiro and was not immediatelyh available for comment. Katz's office phone in Mounf Lebanonwas disconnected, and his cell phone would not accepft messages. Katz, a cellist by training, first came to Pittsburgh in the earlyh 1990s and began investinfg in real estatesoon afterward.
He found some especially in Mount Lebanon, where he owned a block of propertiesa on Washington Road that he developed into storezand restaurants. In 2000 and 2001, he begamn purchasing real estate in Beechview and soon ownecd much ofthe neighborhood's commercial Katz also owns real estate in Pittsburgh's Culturaol District as well as Mount Lebanon, Green Tree and otherr neighborhoods in Allegheny County. Last the URA initiated foreclosure proceedings on four propertiesx on Broadway Avenuein Beechview, which were to be the centerpieces of Katz's efforts to revitalizew the neighborhood.
"(We) are embarkingh on what is a pretty complicated andlengthy process," said Roberrt Rubinstein, director of economic developmentt at the URA. Katz received loans from the URAin 2000. And in then-state Rep. Michael Diven of Brookline pledgec state support fora $2.6 millioh complex at one of the Broadwag Avenue properties that was to be anchorede by a 10,000-square-foot senior center. Diven was defeated by Chelsa Wagnef inNovember 2006, and the statd money for the senior center projec at Katz's property fell through. In additionb to the URA-financed property, Katz owns 12 othef commercial properties in 11 of them with mortgagesfrom Indiana-based , Wagnef said.
"From my conversation with S&Tr Bank, they have moved forward with foreclosure onhis properties," Wagner adding that the foreclosure processx generally takes about three years to complete. Of 40 Katz-owned propertie s throughout thecounty -- including Downtown, Castle Shannon, Mount Lebanon, Dormont and Bethel Park -- all but four were in the procesds of foreclosure at the beginning of last according to an informal tally by Wagner' office.
Saturday, December 3, 2011
Prep football: Rattlers storybook season halted by Elba in Tuscaloosa - News Courier
takes-trendsthe.blogspot.com
Prep football: Rattlers storybook season halted by Elba in Tuscaloosa News Courier By Ashley Hargrove ashley@athensnews-courier.com TUSCALOOSA â€" Nearly nine months ago, Fredrick Rich and Landon Stephens raced across the basketball court to be with teammates as they were presented the blue trophy every high school athlete dreams ... |
Thursday, December 1, 2011
Dallas-area bank to manage failed Ga. institution - Dallas Business Journal:
qalymeled.wordpress.com
billion asset bank in Atlanta seized by federalregulators Irving-based TIB and the seized of Atlanta, both function as banks or correspondent banks, providing servicexs to other banking but not individual customers. They don’t offer service s to individual customers. Silverton Bank was the bank for morethan 1,5090 banks nationwide. The failure’s impact will ripple through thebankingb industry, affecting the balance sheets of hundreds of banks acrosxs the country, which some industry expert said will have catastrophic consequences for banke across the Southeast. The has seized the bank, appointingf the as the receiver. The FDIC, in turn, has created Silverton BridgeBank N.A.
, to manags the business of the bank and minimize the disruptiojn to its customers. TIB will provide servicees to SilvertonBridge Bank, focused particularly on paymenty processing, capital markets services and international banking “Given the unique nature of Silverton’s balancw sheet and operations as a correspondent bankinhg institution, TIB was a logical choice to assist in this criticakl situation,” said TIB President and CEO, Michaelo O’Rourke in a statement issuexd Friday afternoon. TIB was Silverton’s primaryh competitor and the second larges t correspondent bank inthe country.
founded in 1986 as the Georgia Bankers’ provided credit and deposit servicedsto 1,500 small banks in 44 TIB is owned by smaller banks and has more than 1,40 0 bank customers in 46 TIB now is working to manage relationships for all thoss customers. “First and foremost, it is importantt to note that no community bankss lost any overnight fundingy as a result ofthis event,” O’Rourke said in his “Further, many of these institutione will now have the opportunity to move theie accounts to the strength and safety of TIB, if they so Meanwhile, our current customers will enjoy the benefits that result from the economies of scale and expertise that can be created as a result of this transaction.
” TIB is not assuming any loanss from Silverton or managing its lending portfolio. At the time of its Silverton reported $4.1 billion in total assets and $3.1 billion in total deposits, which are expectede to be fully covered by FDICdeposir insurance. The FDIC expects the loss to the insurance fund tototapl $1.3 billion. Rather than being connected a city and its Silverton was tied solely to the fortunews of thebanking business. Earlier this it was a high flyer, opening offices nationwide.
The bank grew largely on providinyg lines of credit and other serviceesto banks, but also by selliny customers so-called loan participations, or piece s of larger loans parcelesd out into smaller chunks. Loan participations allowe small banksin deposit-rich, loan-poor areas to grow by buyinb into loans from other areas. As the home buildinb business boomed, so did Silverton. But the housingg market’s collapse, followed by the economic hit the banking industry And Silverton felt the brunt of the reporting rising credit lossesthroughout 2008.
In February, the bank enteredf into a cease-and-desist agreement with the OCC, and late entered into a similar written agreement with theFederaol Reserve. Soon after, CEO Tom Bryan and Chievf Operating Officer EarlHowell
billion asset bank in Atlanta seized by federalregulators Irving-based TIB and the seized of Atlanta, both function as banks or correspondent banks, providing servicexs to other banking but not individual customers. They don’t offer service s to individual customers. Silverton Bank was the bank for morethan 1,5090 banks nationwide. The failure’s impact will ripple through thebankingb industry, affecting the balance sheets of hundreds of banks acrosxs the country, which some industry expert said will have catastrophic consequences for banke across the Southeast. The has seized the bank, appointingf the as the receiver. The FDIC, in turn, has created Silverton BridgeBank N.A.
, to manags the business of the bank and minimize the disruptiojn to its customers. TIB will provide servicees to SilvertonBridge Bank, focused particularly on paymenty processing, capital markets services and international banking “Given the unique nature of Silverton’s balancw sheet and operations as a correspondent bankinhg institution, TIB was a logical choice to assist in this criticakl situation,” said TIB President and CEO, Michaelo O’Rourke in a statement issuexd Friday afternoon. TIB was Silverton’s primaryh competitor and the second larges t correspondent bank inthe country.
founded in 1986 as the Georgia Bankers’ provided credit and deposit servicedsto 1,500 small banks in 44 TIB is owned by smaller banks and has more than 1,40 0 bank customers in 46 TIB now is working to manage relationships for all thoss customers. “First and foremost, it is importantt to note that no community bankss lost any overnight fundingy as a result ofthis event,” O’Rourke said in his “Further, many of these institutione will now have the opportunity to move theie accounts to the strength and safety of TIB, if they so Meanwhile, our current customers will enjoy the benefits that result from the economies of scale and expertise that can be created as a result of this transaction.
” TIB is not assuming any loanss from Silverton or managing its lending portfolio. At the time of its Silverton reported $4.1 billion in total assets and $3.1 billion in total deposits, which are expectede to be fully covered by FDICdeposir insurance. The FDIC expects the loss to the insurance fund tototapl $1.3 billion. Rather than being connected a city and its Silverton was tied solely to the fortunews of thebanking business. Earlier this it was a high flyer, opening offices nationwide.
The bank grew largely on providinyg lines of credit and other serviceesto banks, but also by selliny customers so-called loan participations, or piece s of larger loans parcelesd out into smaller chunks. Loan participations allowe small banksin deposit-rich, loan-poor areas to grow by buyinb into loans from other areas. As the home buildinb business boomed, so did Silverton. But the housingg market’s collapse, followed by the economic hit the banking industry And Silverton felt the brunt of the reporting rising credit lossesthroughout 2008.
In February, the bank enteredf into a cease-and-desist agreement with the OCC, and late entered into a similar written agreement with theFederaol Reserve. Soon after, CEO Tom Bryan and Chievf Operating Officer EarlHowell
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