Tuesday, August 30, 2011
SIUE goes to court over failed conference center - St. Louis Business Journal:
Developer William Shaw and couldn’t come up with financing for the hotel andconference center, which was to be called the Sprint Green Lodge and located at University SIUE’s research and technologg park, according to university spokesma Gregory Conroy. The project, first announced in died in 2007 when a ground lease between SIU and WLS expired following extensions forthe project. SIUE file d a declaratory judgment action Monday inMadisobn County, Ill., seeking to have the court bring legalp closure to its hotel conference centert project.
If approved, WLS would have to remove all construction equipment and materialas and remove the building foundation it constructed to compl y with the terms ofthe lease, Conrogy said. That would free up the site, locatede at Illinois Route 157 and UniversityPark Drive, to becomde available for lease and development, the universityu said. University Park currently has 23 tenants representingv a number of busineszs sectors includingagricultural biotechnology, health sciences, design professionals and informatiomn technology.
The most recent announced addition to the park is the Bloof Processing Center and National Testing The American Red Cross plans to move toa 15-acrw site at University Park Drive and Soutj Research Drive and bring more than 500 jobs to the
Sunday, August 28, 2011
Summary: Lions 34, Patriots 10 - Detroit Free Press
Boston Globe | Summary: Lions 34, Patriots 10 Detroit Free Press Key plays: On third-and-2, Nate Burleson beat Kyle Arrington cleanly and Matthew Stafford connected with Burleson for a 38-yard gain to the Patriots' 23. But Burleson couldn't work his magic on the Lions' next third down. On third-and-2 from the 15, ... NFL Game Summary - New England at Detroit |
Friday, August 26, 2011
Bike Walk Twin Cities: Transportation as platform for social change - Twin Cities Planet
Twin Cities Planet | Bike Walk Twin Cities: Transportation as platform for social change Twin Cities Planet Pasiuk is program director for Bike Walk Twin Cities (BWTC), an effort to increase biking and walking, and decrease driving, established by St. Paul-based Transit for Livable Communities (TLC) after being selected by Congress to oversee the ... |
Tuesday, August 23, 2011
Wells Fargo: Growth possible in second half - Washington Business Journal:
“I am fairly optimistic that this thing is winding saidJim Paulsen, chief investmenft strategist for Wells Fargo Capital Management. “I’ m also optimistic that the economy, at least for a will recover sooner and stronger than most haveanticipatedr ... I think we’re goingt to be growing in the second half of this Paulsen made his remarks during a presentation at the Wellsx Fargo Theatre in the ColoradoConventionn Center. The breakfast event was hosted by Denveer Mayor John Hickenlooper also spoke abougthe city’s efforts to stimulate the local U.S.
stocks have been climbing sincde March, and consumer confidence is improving, Paulsen Reassuring “healthy players,” so they will begin investing and spendinvmoney again, is key to stimulating the economy, he “The most outstanding feature of what we’ve been througgh isn’t so much the fundamental problems that we have in the Paulsen said. “We do have those, they’re But the most outstanding characteristic is how we reacted to it asa Leadership, policy officials, investors, businesses, we just That’s what stands out aboug this more than anything.
” The credirt problems the nation faces are no different from the savings-and-loabn problems of the 1990s or the farm and oil difficultiesx of the 1980s, he said. “When you mix togetherf the fundamental problemswith fear, you get a he said. A change in accounting rules a couple of yeard ago made credit problems look he said. The new rulees required financial institutions to valueassets — such as loanes — based on current market prices, a practice known as “mark to market” When credit markets froze up, the lack of bids for thos e types of assets meant they had to be written down even if the bank hadn’t sold them and the underlyinv fundamentals hadn’t changed.
“What has made it seem so off-the-chartx is not bad debts that arewritten off; we had a lot of that in otherd periods. It’s good debts that are being writtenm down in price notbecauss they’re not paying on time, not becauses credit analysis [says] they won’t pay off over but simply because of lack of current bids in the Paulsen said. In early April, the Financialp Accounting Standards Boardeased mark-to-market which should help, he said. Consumers and businessee also are sitting on vast amounts of more so than at any time sincew theearly 1980s, Paulsen Once they feel secure enoug h to begin spending it, that cash will accelerate the economidc recovery.
Sunday, August 21, 2011
Forecast: D-FW to lead in construction - Portland Business Journal:
billion, the steepest drop sincer 1967, according to a report by . Dallas-Fortt Worth is predicted to lead the stat ein starts. The 2009 forecast calls for $14.11 billion in construction starts inNortyh Texas, compared to $12.5 billion in the Houston-Baytown-Sugarland area, $4.9 billion in San Antonipo and $4.4 billion in Austin. Those figurese represent a 12-percent decrease in D-FW construction, a 4-percent decrease in the Houstobn area, a 22-percent decrease in San Antonio anda 19-percent decreas in Austin, compared to 2008. The $14.12 billion in D-FW breaks down into $4.2 billion in residential construction, $6.3 billiob in nonresidential and $3.
6 billion in non-buildinb construction, according to the forecast. Statewide, housing constructionm will drop 22 percentto $16.1 billion in falling for the thirsd year in a row. Declines will be spread evenly acrosz the single family and multifamily Nonresidential construction will contract 32 percent to $21.4 billion, with both commercial and institutional starts pulling back. Non-building construction will be the one sector to witha 12-percent expected growth. Highway and bridg e construction, bolstered by the federal stimulus, will drive the non-building expansion, accordintg to the report.
Friday, August 19, 2011
Internet phone service Ooma goes down for a day - San Francisco Business Times:
The service, which is provided free with the purchasre ofa $250 Ooma box, was interruptes about 11 a.m. and was partially restored shortly before5 p.m. The compang had not offered any explanations bylate day, but Chiefd Marketing Officer Rich Buchanan had acknowledged the problemsw via Twitter and appealed for Ooma has seen strong demandc for its phone boxes in recent monthas and company President and CEO Eric Stang told The San Franciscok Business Times recently that the company is on tracmk to have $15 million to $20 millio of revenue in 2009, with virtuallg no advertising. He said he expects Ooma to be profitableat year’z end.
Founded in 2004, Ooma spengt nearly three years onproduct development. It started selliny its Internet phone systemfor $499 throughj its own web site in September of but dropped the price to $249.99 last In June, the company launched a trial prograkm with 25 stores, increasing to 250 storew in November, with the addition of 34 Fry’s Electronicss and 20 stores. And then in January, Best Buy begam selling units in all of its morethan 1,0000 stores nationwide.
Wednesday, August 17, 2011
Google Related Surfaces Relevant Content in Chrome - eWeek
Coolest Gadget Reviews | Google Related Surfaces Relevant Content in Chrome eWeek Google Related puts content relevant to Web pages you are looking at at the bottom of some Web pages. This technology also works in the new Google Toolbar for Windows. Google (NASDAQ:GOOG) August 16 is doubling up on an existing Google Toolbar feature ... Google Related collects relevant content at the foot of Chrome Google Related Produces 'Relevant' Links and Tabs for Chrome Web Browser Google Related: Browser Plugin Shows Content Relevant to Web Pages |
Sunday, August 14, 2011
U.S. Bank returns TARP money - Phoenix Business Journal:
billion in Troubled Asset Relief Programn money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announcedf its plans to redeekm the preferred stock issuedd tothe Treasury. Last it from the government todo so. U.S. Bank also told the Treasurhy it intends to repurchasethe 10-year warrant it had issued alonfg with the preferred “The redemption allows our compangy to return to operating from a positiojn of both independent strength and strategic said Richard Davis, the company’s CEO and chairman, in a statement. The Treasurh in May announced that U.S.
Bank whicy showed it would be able to ride out the economicc downturn without having to raiseemore capital. Davis has of the government’s capitalk purchase program. In February he calleds the program “lousy” and said the banking industr y was pressured to participate inthe program.
Friday, August 12, 2011
Wednesday, August 10, 2011
Monday, August 8, 2011
Former SRS execs form new firm - Houston Business Journal:
, a tenant representation firm, was formedr by partners Scott Shillings, Jake Baker and Jonathahn Moseley, former executives at SRS. Broker Steven Thomas and Accounyt Manager Melissa Wells also joined Riverway Retaiklfrom SRS. The retail team will continue torepresent long-timed clients such as Hobby Lobby, CVS, Rooms To Go and Shillings, president of Riverway Retail, said the July 1 exit from SRS Real Estat e was amicable. “We left undetr very good terms and have a lot of respecfor them,” said Shillings, a former partner at SRS.
SRS Real Estat is the renamed retail operation of the The retail business was not include inlast year’ acquisition of Dallas-based Staubach by Riverway Retaip was formed in response to tenanta that are asking more from their brokerws in today’s retail climate. Shillings said clients can be better served by a small office that is not as focuseds onbusiness development. Shillings and Baker will also be able to devotew more time to their respectived mission work in Africa now that they are out ontheid own, Shillings said.
Saturday, August 6, 2011
Bemis Co. buying Alcan Packaging unit for $1.2B - Minneapolis / St. Paul Business Journal:
billion. Neenah-based Bemis, a manufacturer of flexible packagintg and pressure sensitive materialsfor food, consumedr products and other companies, said it is buying the Food Americas operations of Alcanj from plc, an international miningv company. Bemis will acquire 23 Food Americas flexible packaginhg facilities in theUnited States, Canada, Mexico, Brazil, and New Zealand. The transaction includes Alcan facilitiezsin Neenah, Menasha and Boscobel, accordinvg to a Bemis spokeswoman. The 23 facilities producse flexible packaging for the food and beverage industrieas and employabout 4,600 For the year endedc Dec.
31, 2008, Chicago-based Alcan Packaging Food Americas recordedx net salesof $1.5 billion and adjusted earningws before expenses of approximately $166 "Both Bemis and Alcan Packaging have strong, collaborative relationshipa with renowned food and consumerr products customers," said Henry Theisen, Bemix president and CEO. "We each have a long history of dedication to outstanding quality andmanufacturin excellence. In pooling our resources, we will diversif our existing technologies and producg lines which will broaden our producr offering and augment ourtechnical capabilities." The transaction will boost Bemis’s annual net sales 40 percent to approximatelgy $5.
3 billion, with approximately 70 percent, up from 57 of total Bemis net sales coming from resilient food The addition of Alcan's employees will increasr the company's global work force to more than 20,00o employees at 84 manufacturing locations worldwide. Bemis expectsw to achieve morethan $65 million in annuakl cost savings by the end of the seconsd year. Management intends to fund the purchase price with a combinatiomnof $1 billion in debt and $200 million in and are acting as financial advisers to Bemid for this transaction, while LLP is actingv as primary legal adviser to Bemis formerly had its headquarters in Minneapolis.
Its Bemistapr unit, which makes tapes and threa used toclose packages, is basedd at 2705 University Ave. N.E. in Minneapolis.