Tuesday, August 30, 2011

Feldman sells stake in Colonie Center for $4.1M - Orlando Business Journal:

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The Long Island company announced Thursday that it has sold its remaining sharesto , a pension fund adviser in Feldman, which also managed the mall, made $4.1 million from the That means the Heitman firm is now the sole ownefr of the 1.2 million-square-foot mall. Heitman already had a 75 percenf stake inthe mall, purchased in 2006 for $38 milliobn in cash. At the Heitman also gave Feldman a loan to continue pumping moneyh into the mall as Feldman gave the propertya face-lift and addedr new stores and space. In the end, it cost $110 milliobn to renovate Colonie Center to lure chainx suchas , and a 13-screen Regalo cinema. Feldman paid $82.2 million for Colonire Center inFebruary 2005.
Feldman, in a short statement, said the deal to sell its remaininy stake in the Colonie mall closed onMay 28. Feldmaj says it expects to have a writedown as a resulft ofthe move. The announcement is the latest in a strint of bad developments for In January, a deal to sell three malls The company has also been hurt by the pushing some major tenants to close and file for bankruptcyt protection. Feldman had a net loss of $78.98 million during the second quarterof 2008, its most recent regulatory filing. In that quarter, the company had a $15.4 millio impairment loss on Colonie Center. The company has said it may have to file for bankruptch ifit can’t refinances its debt.
Last summer, the New York Stock Exchangs de-listed Feldman’s stock. Feldman is now tradinhg on thepink sheets/over-the-counter marketr (OTC: FMLP) at 16 cents a share.

Sunday, August 28, 2011

Education funding still falls short despite federal stimulus infusion - San Antonio Business Journal:

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That was the sentiment of an eight-member panel of training and government experts gatheref by the South Florida Business Journal to examinre howthe $787 billion federal stimulus packagse is impacting the region’s education and workforce trainingg sectors. The panel markef the third in theBusiness Journal’ ongoing stimulus series, aimed at tracking and analyzing the flow of mone y from the American Recovery and Reinvestmenr Act into South Florida’s Legislature was the only one nationally to requestg a federal waiver that allowed it to take moneyh from education and replace it with stimulus dollars whiled other states used stimulus dollars to augment the The situation concerned panelist state Sen.
Eleanor “We are not starting at the startin line. The school district in Broward County and those throughou the state are starting behind the starting Sobel said. “They have had problems for years and they are all Veteran educatorRobert Parks, a member of the Broward County Schook Board, said, “Many of the largw urban districts in the nation are afraid of one which is basically a bait and switcyh with those dollars.” What’s even more worrisomes to some experts is that the stimulus money will eventually run out. “I’m really concernecd about in three years; what’s goingh to happen?
” said José Vicente, president of ’s Nortn Campus. “This is a Band-Aid.” He said the college’sw operating budget was cut $22 million while the stimulus monety wasonly $13 million. Parks said Broware County’s school system has cut $1.4 billionh from its construction budget in addition to furloughing 700 teachers and51 “We’ve closed all of our school offices for the summer. We don’t have summer schoolo anymore,” Parks said. would have been looking at cutting its budge t byabout $30 million without $12 million in stimuluss funds, said Dorothy K.
Russell, the university’ds associate VP for financial affairs andbudgetr director. The university cut 30 positionwand “had we not had the stimulus dollard it could have been much more severe.” George executive VP and COO of , said the $1.3 billioh in stimulus funds givenn to the state relieved pressur on the Legislature to further reduce supporrt for Florida Resident Access Grants a key source of monegy for students, but he pointed out that the grants used to be $3,00o0 a year for students and are now $2,529. The amounft is important to students, who find enrollment caps at statr universities and turn to NSU and othertprivate institutions.
He also said that universities are workinfg together to apply for federastimulus funding. NSU has a collaborativwe proposal with and FAU fora $50 milliohn research building with wet labs, business incubator space and offices for the U.S. Geologicakl Survey, which is helpingh oversee Everglades restoration. “We have shovel-ready projectse we have submitted to the Governor and in the next 60 days we couldsput 1,000 people to Hanbury said. The competition for these typeeof projects, though, is fierce. FAU is gettingh about $12 million in direct infusion from the federaklstimulus package, but the university also is seeking moneh from the for labs and instruments, Russelk said.
April was the month to submiyt applications and the results are expectesby September. The strongest flow of money, so far, appearse to be for program that help the jobless asthe state’s unemploymenf rate has hit 10.2 percent.

Thursday, August 25, 2011

Survey: Small business anxiety on the rise - Orlando Business Journal:

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The nationwide survey of 206 owners, presidentx and CEOs of businesses with five to 499 employees wasconductefd Nov. 17-23 and suggests there has not beenan "optimisn bump" after the election of Barack Obams as president, at leas not in small-business circles. The survey shows that most respondents are worriedd aboutthe economy, expect a long downturn, and are more pessimistidc about their own companies' prospects than they were a shor t time ago. • Eighty-twk percent of those surveyed in November said the financial meltdown had affectedtheir business.
In the prior survey, taken in Octoberf as the $700 billion financial bailouf plan made its waythrougnh Congress, 73 percent said they had been • Another 80 percent said they were "vert concerned" about the U.S. economy, with 62 percent blaming bankersand sub-prime lenders for the economicx mess. • When asked how they expected thingds to shake out at their own companiess in the next12 months, 37 percen said "a little better" or "a lot -- a slight erosion from Octobere (after the bailout was announced but beforwe the presidential election) when 40 percenty were optimistic. When askecd that same question back in 78 percent of respondentswere bullish.
• Businessw owners by and large don't expectt a quick turnaround. On average, they expect the economg to take 2.4 years to turn • Thirty-seven percent expect their businessz prospects toget worse, while 26 percent expecr prospects to remain the same. A substantial minority, 41 percent, were "veryu concerned" about the long-terkm survival of their own companies. That's actuallyu a more encouraging number than it was back in at what we now know was the early stage of what has beena year-longt recession. Then, 47 percent were "very concerned" about long-term survival.
But the number has grown sincee October, when only 35 percent rated themselves "veryy concerned." • About the only significant bright spot came in the area ofenergyg costs. Concern over rising energy costa has declined as the price of oilhas Forty-five percent were "very down from 77 percent in June, when the averagwe price for a gallon of gas was Business owner sentiment mirrored the most-recenyt Beige Book report from the . The anecdotal report from the Federal Reserve's regional banks showed weaknes s acrossall sectors, in every region of the Consumer spending was down in most regions, accordingy to the report released Dec.
3, lending was and the labor market was The City Business Journals Network is an affiliate of representing 66 businesspublications — including located in major markets across the country.

Tuesday, August 23, 2011

Midwest resumes nonstop service between Los Angeles, Milwaukee - Los Angeles Business from bizjournals:

http://luxurypoipu.com/activities.html
Daily nonstop service between Milwaukee and Los Angeles willbegi Aug. 1, with service offered aboard an Embraer 190 configured with10 extra-widse leather Signature seats and 84 leather Saver seats. Buy-onboardr Best Care Cuisine mealsand baked-onboard chocolate chip cookies will also be available. Oak Creek, Wisc.-bases Midwest recently entered into air service agreementswith Indianapolis-based to operate the E190s and E135xs for this service. Midwest dropped nonstop servicew to Los Angeles from Milwaukee last year aftetr it eliminated its fleetof MD-8p aircraft, which had the capability of reaching the West Coast without refueling.
“We continure to stay close to our customers to providse what they want in termes of enhanced service options to a variethof markets,” Timothy Hoeksema, chairman, president and chief executive officef wrote in a message to employees marking the airline’sa 25th anniversary. “As we make progresz on our restructuring plan, to be able to make this announcemenf in conjunction with our anniversary acknowledges the customers who have supporter us for the past25

Sunday, August 21, 2011

Portland-area economy weakens Q1 - Birmingham Business Journal:

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percent, an accelerating decline compare tothe 13.5 percent (revised) drop in the fourth quarter of 2008. Of the nine indicators included inthe index, six declinecd significantly, said Tim Duy, director of the Oregon Economic Forum and a UO adjunct assistant professor, Labor market trends continues to deteriorate. Help-wanted advertising in The Oregonianm fell duringthe quarter, consistenrt with a decrease in hiring demand. Similarly, initialk unemployment claims continuedto rise, reaching a month average of 16,819 Non-farm payrolls continue to fall as under the dual forces of increased layoffs and slack hirintg demand; payrolls stand 3.9 percent lower than year-ago levels.
The expectef slowdown in lodging activity finally cameto pass, said Duy,with estimated lodginh revenue (seasonally and inflatio n adjusted) down 15.4 percent from the fourth Passenger traffic at Portland International Airportr was effectively unchanged from the previous quarter. Housing marketsz were generally weaker. Housing sales were effectively unchanged, whilee average days-on-market fell, partially offsettingf a particularly sharp rise in the fourth quartedrof 2008, attributable to the intensification of the financial crisisx and unusual weather conditions, said Duy.
Ongointg declines in the in point to continues economic deterioration in thePortland region, he Signs of stabilization are difficult to he said; expectations for a firmin g of economic activity in the second half of 2009 are largelg based on some tentativwe signs of stability in the national Moreover, the impact of fiscal and monetary policies should becomre more evident as the year Still, the pace of the recovery is expectedr to be subdued as the economuy adjusts to an environment less dependengt on debt-supported consumer spending growth.

Friday, August 19, 2011

Realtors to launch foreclosure courses - Puget Sound Business Journal (Seattle):

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The group gave the $3,200 to host a foreclosurw and shortsales course. And the was given $8,050 to develop a coursd and DVD for consumers and agents on the legalk risks associated with foreclosures andshorty sales. also was awarded $6,000 to host a Realtotr training course on helping consumersz who are behind ontheir mortgages. The national associatiojn gave out morethan $3 millionj to different city associationsz to help resolve the growing foreclosure “Realtors build communities, and as the leading advocate for homeownership and housing issues, we believe that any family that loses its home to foreclosurre is one family too many,” NAR President Charles a broker with in Dallas-Fort Worth.
“Foreclosures affect each community differently, which is why NAR is providing the Foreclosurwe Prevention and Response grants directly to loca l and state Realtor associations so that they can develo p unique, coordinated action plans to prevent foreclosuresx and minimize their adverse effects on the

Tuesday, August 16, 2011

Public Voices Opinions on School Budget, Proposed Inclusion of SB 329 Provision - KFBB NewsChannel 5

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Public Voices Opinions on School Budget, Proposed Inclusion of SB 329 Provision

KFBB NewsChannel 5


Most in attendance spoke in favor of the provision's inclusion, including Mayoral Candidate Stuart Lewin. “Schools are essential,” he said. “I have no question in my mind that this is important to do. In fact, I think it's the responsibility of the ...



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Sunday, August 14, 2011

Highland Mall strikes back against Dillard's - Washington Business Journal:

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In a lawsuit filed March 27 in U.S. District Court, LLC and both wholly owned subsidiaries of national department storechain Dillard’zs Inc. — asked the courr to void its contractual obligations to including paying rent on the remainder of its Before the lawsuitwas filed, Dillard’s announced that it plansx to close both its two-level stores withijn the mall, one focused on men’s clothing and the other on women’s fashion and home Dillard’s lease for the men’s store expires in 2017, while it owns its women’sx store but pays Highland Mall for common area maintenance and othe r charges.
In their Highland’s owners deny Dillard’s allegations in its lawsuit andclaim Dillard’s is in breach of its lease for chronically failing to pay common area and othedr charges starting in October 2006. The countersuit also claims Dillard’s, in order to get out of its began letter-writing and public media campaigns in late summerr 2008to “discredit Highland Mall in the eyes of consumersa and potential tenants.” Dillard’s sought to “convince the publicf and prospective tenants that Highlanf Mall is deteriorating and an undesirable placr to shop or open a business...
anr [misinform] the public about the quality of Highland its safety and its tenant mix, the countersuit The suit claims that the mall lost prospectivr tenants as a result of Dillard’s The mall’s owners ask for a declaratorhy judgment, attorneys’ fees and damages related to Dillard’s alleges breach of contract, “business disparagement” and “interference with businesss relations.” Dillard’s attorney, Brock Akers at Phillipsa & Akers PC, could not immediately be reacher for comment.

Friday, August 12, 2011

Wells Fargo CEO says California in 'financial ruin' - Sacramento Business Journal:

http://www.illinois-home.com/health-emergency-services.html
“The state of California is in financial ruin,” Stumpf told thosd attending a statewidemicrofinance lenders’ conference at . “The budgett deficit in Californiais staggering.” Stumpf said the recessiobn is taking a toll on some of the loans made to creditworthy borrowers who lost their jobs and fell behine on payments. “Today we’re charginb off loans to people we should have made loans to,” said Stumpf, reiterating that the bank avoidede many of the exotic mortgages offered by rivals. Stumpf’sw comments were not intended as guidance on how the San Francisco bank is faring in thesecond quarter, a bank spokesma n said.
The state of California is struggling with a growingb budget deficit after tax and financiaol measures failed at the ballot box this Earlierthis year, the state delayed tax refund and other payments due to what State Controllee John Chiang called a “cash crisi not seen since the Great The state recently asked the federal governmen t for assistance in guaranteeing California’s short-term fearing that it could not raisde the money standing on its own credit.
On the nationalp economy, Stumpf said this is his “third rodeo” or He pointed to the deep recession of the earlhy 1980s when the prim rate hit 21 percent and the struggling economuy of the late 1980s that countexd mostthe nation’s largest thrifts and majodr banks in Texas among its He says the economic fallour from the dot-com bust and Sept. 11 terrorist attacks was significant but not as harsh as theearlief recessions. “This one feels Stumpf said.
“It feels different in the respect that the wholwe world is in Stumpf said microfinance typically small loans to individuals to start or growbusinessews — could be one tool to help the economy He noted that recent jobs at Bay Area companies with 19 employeeds or fewer have grown 14 perceny while larger companies shed workers. Wells Fargo has been active in supportingthe region’s microfinancr lenders and related organizations.
“It doesn’t take a lot of monegy to help these individuals achievetheir dreams,” Stumpf

Wednesday, August 10, 2011

Realtors to launch foreclosure courses - Baltimore Business Journal:

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The group gave the $3,200 to host a foreclosurd and shortsales course. And the was given $8,05 0 to develop a course and DVD for consumers and agent on the legal riskzs associated with foreclosures andshort sales. also was awarded $6,00p0 to host a Realtoe training course on helping consumers who are behinr ontheir mortgages. The national association gave out morethan $3 millioj to different city associations to help resolve the growintg foreclosure problem.
“Realtors build communities, and as the leadingv advocate for homeownership andhousing issues, we believe that any family that loses its home to foreclosure is one familgy too many,” NAR President Charlese McMillan, a broker with in Dallas-Fort Worth. “Foreclosures affecg each community differently, which is why NAR is providinvg the Foreclosure Prevention and Responsew grants directly to local and stat e Realtor associations so that they candevelop unique, coordinatedf action plans to prevent foreclosures and minimize theit adverse effects on the community.

Sunday, August 7, 2011

Lakewood Ranch cityhood at critical juncture - Bradenton Herald

http://www.tarheelhoopla.com/?p=81


Lakewood Ranch cityhood at critical juncture

Bradenton Herald


This month's straw poll in Lakewood Ranch only asks registered voters in the growing community one question: “Do you favor submitting a bill to the Florida Legislature to consider the incorporation of Lakewood Ranch as a city? ...



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Friday, August 5, 2011

Megadeth Lead Singer Dave Mustaine To Post Personalized Video Messages On ... - Scribbal

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Guitar World Magazine


Megadeth Lead Singer Dave Mustaine To Post Personalized Video Messages On ...

Scribbal


He's launching a line of e-cards, e-invitations and ringtones in addition to posting personalized video updates to Facebook. These completely customizable invitations and cards will be available starting August 1. Dave Mustaine isn't the first artist ...


Megadeth's Dave Mustaine to Blitz Personalized Video Updates From the Road to ...

PR Newswire (press release)



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