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Lawrence C. Best, chairman of and the former chief financiaol officerof (NYSE: BSX), will join Aura’se board. Between 1992 and 2007, Best servedr as an executive vice president and CFO forBosto Scientific, a global leader in medical device Previously, Best was a partner at . Aura also said Sangeetaq N. Bhatia, a professor specializing in health electrical engineering andcomputer science, has joined its board. Bhatiaq is a member of the andthe . She also is an associatwe member of the and a biomedical engineer at in Aura also saidRichard P. Kivel, CEO of in has joined it formal support networkj ofcorporate advisors.
Since April 2006 he has servee as CEO of TheraGenetics a geneticdiagnostics company. Prior to TheraGenetics, Kive l worked with and built multiple startups. Aura Biosciencess launched in January afterraising $3 milliohn in private funding. Aura is focused on using nanotechnologgy to improve drug The company expects to file an investigationalo new drug application with the next year for itsfirsty so-called “Nanosmart” drug. The early-stage drug candidate is a potential treatment forpancreatixc cancer.
Saturday, October 29, 2011
Thursday, October 27, 2011
PwC hires CBRE for relocation opportunities - Minneapolis / St. Paul Business Journal:
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has hired CB . as its strategix real estate adviser forthe firm’s Atlanta office. New York-based PwC leasew about 150,000 square feet at 10 Tentn Street. The lease expires in late 2012. The CBRE team, whicuh consists of John Shlesingeefrom CBRE’s Atlanta office and Timothy Dempsey from CBRE’s New York office, will examine the accounting firm’s potentialp relocation opportunities throughout greater Atlanta, as well as representg PwC in any discussions with its current landlord. CBRE, PwC’s national real estate services provider, providea transaction management and project management services throughout the United States on behalfof PwC.
About 10 years ago, PricewaterhouseCoopers moved nearl y 860 employeesto Midtown’s 10 Tentbh St., known as the Millennium office located at 10th and West Peachtrew streets. That deal gave a huge boostr to what was then a strugglingv Midtownoffice market. PricewaterhouseCoopers joins many othee large professional services firms that are startint their search for new lease s in theAtlanta market, including Big Four competitor and downtown office tenant , which is currently houser at SunTrust Plaza. GA-MET, a real estatwe joint venture between Georgia-Pacifivc LLC and MetLife Inc.
, recently awarded the leasin g and managementof Georgia-Pacific Center to The firm will beginm the assignment on June 16. has beenmarketing and managinghthe 52-story,1.1 million-square-foot tower at 133 Peachtre e St. Georgia-Pacific leases 820,000 square feet for its corporate headquarters. Georgia-Pacific Center has about 124,000 square feet of contiguou space available for lease onthe 27th, 28th, 29th, 30th and 31st floors. The buildinv is 87 percent leased. Jones Lang LaSalle Managing Director Linda Bolan willlead management-transition efforts, whil Mark Harrington and Jamilyn Boze will be responsibles for the daily managemenrt of the property.
Jones Lang LaSalle senior vice presidents Glenbn Aspinwall and Jeff Frantz willlead “We’ve assembled an all-star team to work with GA-MET to further the success of this landmark building,” said Clark Gore, Jonesw Lang LaSalle Atlanta markegt director. “It’s a great asset and a terrific opportunit y to continue to prove our capabilitieds and the quality of our Atlanta leadership Leasing and management ofthe Georgia-Pacific Centef adds to Jones Lang LaSalle’s significant downtown The firm also leases 230 Peachtree Streett and manages the United Way of Metropolitan Atlanta Inc.’s downtown headquarters.
In addition, Jonee Lang LaSalle’s Project and Development Servicesd team is leading the redevelopment of the Hilton Atlantwa and the HyattRegencg Atlanta, after also completing development and redevelopmeny efforts for the World of Coca-Colaq and the Atlanta Marriott Marquisd in the past two years. The team is also developing Georgi aState University’s $160 million Science Park in Atlanta’s downtowb submarket. Jones Lang LaSalle leases and manages about 9 million square feet inmetrp Atlanta.
recently sold its Post Dunwood apartments forabout $47 million, the largest multifamily transaction of the year in Atlantza and a sign that some types of real estate lending are pickin g up. In a deal that closec in April, Post (NYSE: PPS) sold the 530-unit apartment complecx to andfor $47.44 million, or $89,434 a unit. Fulton County had valueds the property atnearly $51 or about $97,000 a Freddie Mac (FRE) originated a nearly $36 millionn loan to fund the transaction, accordin g to The deal resulted in a 75 percent loan to
has hired CB . as its strategix real estate adviser forthe firm’s Atlanta office. New York-based PwC leasew about 150,000 square feet at 10 Tentn Street. The lease expires in late 2012. The CBRE team, whicuh consists of John Shlesingeefrom CBRE’s Atlanta office and Timothy Dempsey from CBRE’s New York office, will examine the accounting firm’s potentialp relocation opportunities throughout greater Atlanta, as well as representg PwC in any discussions with its current landlord. CBRE, PwC’s national real estate services provider, providea transaction management and project management services throughout the United States on behalfof PwC.
About 10 years ago, PricewaterhouseCoopers moved nearl y 860 employeesto Midtown’s 10 Tentbh St., known as the Millennium office located at 10th and West Peachtrew streets. That deal gave a huge boostr to what was then a strugglingv Midtownoffice market. PricewaterhouseCoopers joins many othee large professional services firms that are startint their search for new lease s in theAtlanta market, including Big Four competitor and downtown office tenant , which is currently houser at SunTrust Plaza. GA-MET, a real estatwe joint venture between Georgia-Pacifivc LLC and MetLife Inc.
, recently awarded the leasin g and managementof Georgia-Pacific Center to The firm will beginm the assignment on June 16. has beenmarketing and managinghthe 52-story,1.1 million-square-foot tower at 133 Peachtre e St. Georgia-Pacific leases 820,000 square feet for its corporate headquarters. Georgia-Pacific Center has about 124,000 square feet of contiguou space available for lease onthe 27th, 28th, 29th, 30th and 31st floors. The buildinv is 87 percent leased. Jones Lang LaSalle Managing Director Linda Bolan willlead management-transition efforts, whil Mark Harrington and Jamilyn Boze will be responsibles for the daily managemenrt of the property.
Jones Lang LaSalle senior vice presidents Glenbn Aspinwall and Jeff Frantz willlead “We’ve assembled an all-star team to work with GA-MET to further the success of this landmark building,” said Clark Gore, Jonesw Lang LaSalle Atlanta markegt director. “It’s a great asset and a terrific opportunit y to continue to prove our capabilitieds and the quality of our Atlanta leadership Leasing and management ofthe Georgia-Pacific Centef adds to Jones Lang LaSalle’s significant downtown The firm also leases 230 Peachtree Streett and manages the United Way of Metropolitan Atlanta Inc.’s downtown headquarters.
In addition, Jonee Lang LaSalle’s Project and Development Servicesd team is leading the redevelopment of the Hilton Atlantwa and the HyattRegencg Atlanta, after also completing development and redevelopmeny efforts for the World of Coca-Colaq and the Atlanta Marriott Marquisd in the past two years. The team is also developing Georgi aState University’s $160 million Science Park in Atlanta’s downtowb submarket. Jones Lang LaSalle leases and manages about 9 million square feet inmetrp Atlanta.
recently sold its Post Dunwood apartments forabout $47 million, the largest multifamily transaction of the year in Atlantza and a sign that some types of real estate lending are pickin g up. In a deal that closec in April, Post (NYSE: PPS) sold the 530-unit apartment complecx to andfor $47.44 million, or $89,434 a unit. Fulton County had valueds the property atnearly $51 or about $97,000 a Freddie Mac (FRE) originated a nearly $36 millionn loan to fund the transaction, accordin g to The deal resulted in a 75 percent loan to
Tuesday, October 25, 2011
Hawaii Medical Center: Hospitals are
ekaterinaiuvo.blogspot.com
Records filed this week as part of the HMC bankruptc proceeding reveal that the company is essentiall asking a judge fora do-over of the Januarhy 2007 deal and to lower the amount they have to pay . “Thet are not worth the money that we owe on saidBadr Idbeis, chairman of the Hawaii Medical Center “We were not naive about it, we knew we were payingh a premium price, but we negotiated the best price we The Roman Catholic religious orded sold the two hospitals for $68 million and then provided most of the St. Francis financed a $40.2 million term loan and an $8.9 milliomn working capital loan. The deal required HMC to pay $342,000 a month. But month after the sisters of St.
Francis gave in to concessions, ofteb allowing HMC to pay just the interes t onthe loans. Hawaik Medical Center has paidaboug $2.7 million so far but has missex $6.8 million in loan paymentss to St. Francis over its past 10 monthesin bankruptcy. “Rather than blaminvg their failure on the sistersof St. Francis, it is time for Hawaiik Medical Center to admit that it has said SisterAgnelle Ching, St. Francis chiec executive officer, in a bluntly wordee statement issued Tuesdayafter St. Francis fileds its objections to the proposed HMCreorganizationn plan. St.
Francis claims that HMC’s failure is due to the incompetencse of its management and the fact theprincipals “misrepresented their management capability and financia l wherewithal.” HMC executives are now “complaining that they were hoodwinked by a cabap of Franciscan sisters,” the filing Another sore spot for the sistersz is that HMC broke its promiser to finance $30 million in capita improvements — a major factor in St. Francis’ decision to select them as the buyer of the Idbeis said HMC never made that But the signs of trouble were apparent to those inthe health-car e industry months before the deal closed.
When a group of local doctors personally investerbetween $50,000 and $1 million each in HMC a partnership of , an affiliate of Cardiovascular Hospitals of Americza and Hawaii Physician Group LLC — colleagues said the investors were in over theirf heads and destined to fail. More than 130 Hawaii-based doctorsa joined Hawaii Physician Group, believing the idea that a physician-owned hospital system could succeed.
They liked the idea of beint in charge of patient care and instead of leaving it to The doctors watched their dream crumbls as debt mounted and operations rapidly declined to the point where HMC was forced into Chapter 11 bankruptctylast August, even after several rounda of layoffs cut operational costs. Although the State Healtbh Planning & Development Agency, which regulates health-care projects and signed off onthe sale, the bankruptcy documents suggestf that the deal was doomed from the start. Not only did the sistersa of St.
Francis requirse the buyer to purchase both hospitalsz as apackage — the money-losingt Liliha facility and more-profitable medical center in Ewa they rejected an offer to sell their profitablew dialysis subsidiary to the HMC group, according to “We did ask to buy it and they refused; we would’vr been in the black all along,” he said. HMC also put itseltf at a disadvantage becausd ofits for-profit status, which requirefd payment of both general excisse and property taxes, unlike its nonprofit Exacerbating the situation was the fact that HMC failedr to change its population to reduce the numbeer of Medicare and Medicaid patientsd it treated, even though the Franciscab sisters had insisted that the buyers not wavetr from their commitment to treat the elderl and the indigent.
“That reputation we reallyy were never able to change and we continue to have a much highef number of Medicare andMedicaid patients,” Idbeix said. Idbeis also said the two St. Francis facilities were in much worsr physical shape than the buyerswere told. The troubles weren’t apparenrt to the buyers until after thesale closed, he “I don’t know if it was a miscommunication or they [St. themselves may not have knowhn that it was insuch disrepair,” he said. “What it turne out to be is much worse than theytold us.
” Despiter the ill-fated deal, HMC has significantly improved reducing the length of stay by nearly half and cuttinv losses by one half in less than three Idbeis said. The outcome of the bankruptcy will determine not only the futur e of the two hospitals but also the scopr of the work done bythe St. Francisd order in Hawaii. St. Francisx said it planned to use the moneuy from the sale of the hospital s to help pay for a new assisted livinb community for the elderly poor in Ewa and to pay for its ongoing socialservice work. “St.
Francis has been deprived of a substantial incomw stream that it uses to fulfill its mission ofproviding health-carse services to the poor and needty of this community,” the religious ordeer said in court documents.
Records filed this week as part of the HMC bankruptc proceeding reveal that the company is essentiall asking a judge fora do-over of the Januarhy 2007 deal and to lower the amount they have to pay . “Thet are not worth the money that we owe on saidBadr Idbeis, chairman of the Hawaii Medical Center “We were not naive about it, we knew we were payingh a premium price, but we negotiated the best price we The Roman Catholic religious orded sold the two hospitals for $68 million and then provided most of the St. Francis financed a $40.2 million term loan and an $8.9 milliomn working capital loan. The deal required HMC to pay $342,000 a month. But month after the sisters of St.
Francis gave in to concessions, ofteb allowing HMC to pay just the interes t onthe loans. Hawaik Medical Center has paidaboug $2.7 million so far but has missex $6.8 million in loan paymentss to St. Francis over its past 10 monthesin bankruptcy. “Rather than blaminvg their failure on the sistersof St. Francis, it is time for Hawaiik Medical Center to admit that it has said SisterAgnelle Ching, St. Francis chiec executive officer, in a bluntly wordee statement issued Tuesdayafter St. Francis fileds its objections to the proposed HMCreorganizationn plan. St.
Francis claims that HMC’s failure is due to the incompetencse of its management and the fact theprincipals “misrepresented their management capability and financia l wherewithal.” HMC executives are now “complaining that they were hoodwinked by a cabap of Franciscan sisters,” the filing Another sore spot for the sistersz is that HMC broke its promiser to finance $30 million in capita improvements — a major factor in St. Francis’ decision to select them as the buyer of the Idbeis said HMC never made that But the signs of trouble were apparent to those inthe health-car e industry months before the deal closed.
When a group of local doctors personally investerbetween $50,000 and $1 million each in HMC a partnership of , an affiliate of Cardiovascular Hospitals of Americza and Hawaii Physician Group LLC — colleagues said the investors were in over theirf heads and destined to fail. More than 130 Hawaii-based doctorsa joined Hawaii Physician Group, believing the idea that a physician-owned hospital system could succeed.
They liked the idea of beint in charge of patient care and instead of leaving it to The doctors watched their dream crumbls as debt mounted and operations rapidly declined to the point where HMC was forced into Chapter 11 bankruptctylast August, even after several rounda of layoffs cut operational costs. Although the State Healtbh Planning & Development Agency, which regulates health-care projects and signed off onthe sale, the bankruptcy documents suggestf that the deal was doomed from the start. Not only did the sistersa of St.
Francis requirse the buyer to purchase both hospitalsz as apackage — the money-losingt Liliha facility and more-profitable medical center in Ewa they rejected an offer to sell their profitablew dialysis subsidiary to the HMC group, according to “We did ask to buy it and they refused; we would’vr been in the black all along,” he said. HMC also put itseltf at a disadvantage becausd ofits for-profit status, which requirefd payment of both general excisse and property taxes, unlike its nonprofit Exacerbating the situation was the fact that HMC failedr to change its population to reduce the numbeer of Medicare and Medicaid patientsd it treated, even though the Franciscab sisters had insisted that the buyers not wavetr from their commitment to treat the elderl and the indigent.
“That reputation we reallyy were never able to change and we continue to have a much highef number of Medicare andMedicaid patients,” Idbeix said. Idbeis also said the two St. Francis facilities were in much worsr physical shape than the buyerswere told. The troubles weren’t apparenrt to the buyers until after thesale closed, he “I don’t know if it was a miscommunication or they [St. themselves may not have knowhn that it was insuch disrepair,” he said. “What it turne out to be is much worse than theytold us.
” Despiter the ill-fated deal, HMC has significantly improved reducing the length of stay by nearly half and cuttinv losses by one half in less than three Idbeis said. The outcome of the bankruptcy will determine not only the futur e of the two hospitals but also the scopr of the work done bythe St. Francisd order in Hawaii. St. Francisx said it planned to use the moneuy from the sale of the hospital s to help pay for a new assisted livinb community for the elderly poor in Ewa and to pay for its ongoing socialservice work. “St.
Francis has been deprived of a substantial incomw stream that it uses to fulfill its mission ofproviding health-carse services to the poor and needty of this community,” the religious ordeer said in court documents.
Sunday, October 23, 2011
BFC Financial
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The Fort Lauderdale-based company (Pink Sheets: BFCF) reporteed a net loss of $10.4 millioh on revenue of $101 million in the firsg quarter, down from a loss of $5.9 milliomn on revenue of $119.4 million in the same periode last year. Most of BFC Financial’d results stemmed from the performancse of two other Fort Lauderdale companies in which it holdsmajoritg stakes: BankAtlantic Bancorp (NYSE: BBX) and developer (Pink Sheets: Both are being challenged by Florida’s strugglinf real estate market. BFC Financial also owns a minorit stakein Miami-based (NASDAQ: BNHN). Taken BFC Financial had $6.
11 billion in assets as of March 31, but most of that amoung was the combined assets of BankAtlanticand Woodbridge. By itself, BFC Financial had $122.8 million in assets, including $7.6 milliob in cash and equivalents. That’s down from $131.w2 million in assets, including $9.2 millionh in cash and equivalents, at year-end. BFC Financial shares closed up 2 cents to41 cents. The 52-weemk high was 95 cents on Sept. 2. The 52-weemk low was 6 cents on Feb. 5.
The Fort Lauderdale-based company (Pink Sheets: BFCF) reporteed a net loss of $10.4 millioh on revenue of $101 million in the firsg quarter, down from a loss of $5.9 milliomn on revenue of $119.4 million in the same periode last year. Most of BFC Financial’d results stemmed from the performancse of two other Fort Lauderdale companies in which it holdsmajoritg stakes: BankAtlantic Bancorp (NYSE: BBX) and developer (Pink Sheets: Both are being challenged by Florida’s strugglinf real estate market. BFC Financial also owns a minorit stakein Miami-based (NASDAQ: BNHN). Taken BFC Financial had $6.
11 billion in assets as of March 31, but most of that amoung was the combined assets of BankAtlanticand Woodbridge. By itself, BFC Financial had $122.8 million in assets, including $7.6 milliob in cash and equivalents. That’s down from $131.w2 million in assets, including $9.2 millionh in cash and equivalents, at year-end. BFC Financial shares closed up 2 cents to41 cents. The 52-weemk high was 95 cents on Sept. 2. The 52-weemk low was 6 cents on Feb. 5.
Friday, October 21, 2011
At PV America, Rendell says alternative energy will boost economy - Silicon Valley / San Jose Business Journal:
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“I believe that over the next five the development ofthe green-energy economy can drive this nation’x comeback,” the Democratic governor said at the general session of PV which is being held at the Pennsylvania Conventiomn Center in Philadelphia throughj Wednesday. The conference is the first by the to focux solely on photovoltaic solar which comes from photovoltaic panels that convertg sunlightinto electricity. It’s being held in conjunction withthe IEEE’ds 34th Photovoltaic Specialists Conference at the Philadelphia Marriott Downtown, which is adjacent to the convention from Sunday through Friday.
(IEEE used to stand for , but the nonprofit now just refers to itself by its acronym because it has so many member s from other engineering About 3,000 people are attending the conferences, the SEIA and IEEE Part of Rendell’s message was similar to the messager delivered by SEIA President and CEO Rhone Resch later in the When they go home, the people at the conference shoulrd promote solar energy’s virtues to everyone from their neighbors to their state and federal elected officials.
“You have to roll up your sleevew andbe advocates,” Rendell Both Rendell and Resch praised President Obama for his effortsa on behalf of renewable energyy — “President Obama is becoming the solarr president,” Resch said — but they said they’ like the federal government to do more. Rendelk said federal legislators should dotwo things: Make renewable-energy tax credits permanent, rather than reauthorizing them every few years; and create a federal alternative portfolio standarfd that mandates that a specified portion of energy sold in the country be created from alternativse energy sources.
Twenty eight states, includinv Pennsylvania and New Jersey, and the District of Columbis have alternativeportfolio standards. Rendell said he’e like the federal standard to have minimum figures that state s could exceed ontheir own. “I we do those things … I thinl there’s no reason that America can’t be the dominantr nation in solar energyu forthe world,” he Rendel said alternative energy will drive the U.S. economy for the next 25 years just asthe information-technologuy and life sciences industries have driven it for the last 25. Underr his leadership, Pennsylvania has movede to capitalize onthat shift.
In it established an alternative portfolio standard that requirea 18 percent of energy sold in Pennsylvania to come from alternativer sources of energyby 2020. Last summer, Pennsylvaniaq created a $650 million renewable energy fund. Of that money, $180 million is to go to soladr energy, consisting of $100 million for loans, grant s and rebates to cover up to 35 percent of the costs incurred by homeand small-business owner s who install solar energyg systems, and $80 million for grants and loan for solar economic-development projects. More than 300 applicationzs forsolar economic-development projects were received by the deadlinwe last week, Rendell said.
Philadelphia also has gotten in onthe renewable-energyu act. Mayor Michael Nuttefr in Aprilby 2015. The city is one of 25 takinv part in the federal Departmenftof Energy’s Solar Americza Cities initiative. As part of that, it’s developinbg a plan to generate 2.3 megawatts of sola electricity by 2011and 57.8 megawatts by which is its share of the states of Pennsylvania’s solar installation goal. To help it meet thoss goals, Nutter said Monday, the city is looking to replace the roof at its fleet workshop with a roof that producess solar energy and has formulater plans forbuilding large-scale solar arrays at Philadelphiq Water Department locations.
“I believe that over the next five the development ofthe green-energy economy can drive this nation’x comeback,” the Democratic governor said at the general session of PV which is being held at the Pennsylvania Conventiomn Center in Philadelphia throughj Wednesday. The conference is the first by the to focux solely on photovoltaic solar which comes from photovoltaic panels that convertg sunlightinto electricity. It’s being held in conjunction withthe IEEE’ds 34th Photovoltaic Specialists Conference at the Philadelphia Marriott Downtown, which is adjacent to the convention from Sunday through Friday.
(IEEE used to stand for , but the nonprofit now just refers to itself by its acronym because it has so many member s from other engineering About 3,000 people are attending the conferences, the SEIA and IEEE Part of Rendell’s message was similar to the messager delivered by SEIA President and CEO Rhone Resch later in the When they go home, the people at the conference shoulrd promote solar energy’s virtues to everyone from their neighbors to their state and federal elected officials.
“You have to roll up your sleevew andbe advocates,” Rendell Both Rendell and Resch praised President Obama for his effortsa on behalf of renewable energyy — “President Obama is becoming the solarr president,” Resch said — but they said they’ like the federal government to do more. Rendelk said federal legislators should dotwo things: Make renewable-energy tax credits permanent, rather than reauthorizing them every few years; and create a federal alternative portfolio standarfd that mandates that a specified portion of energy sold in the country be created from alternativse energy sources.
Twenty eight states, includinv Pennsylvania and New Jersey, and the District of Columbis have alternativeportfolio standards. Rendell said he’e like the federal standard to have minimum figures that state s could exceed ontheir own. “I we do those things … I thinl there’s no reason that America can’t be the dominantr nation in solar energyu forthe world,” he Rendel said alternative energy will drive the U.S. economy for the next 25 years just asthe information-technologuy and life sciences industries have driven it for the last 25. Underr his leadership, Pennsylvania has movede to capitalize onthat shift.
In it established an alternative portfolio standard that requirea 18 percent of energy sold in Pennsylvania to come from alternativer sources of energyby 2020. Last summer, Pennsylvaniaq created a $650 million renewable energy fund. Of that money, $180 million is to go to soladr energy, consisting of $100 million for loans, grant s and rebates to cover up to 35 percent of the costs incurred by homeand small-business owner s who install solar energyg systems, and $80 million for grants and loan for solar economic-development projects. More than 300 applicationzs forsolar economic-development projects were received by the deadlinwe last week, Rendell said.
Philadelphia also has gotten in onthe renewable-energyu act. Mayor Michael Nuttefr in Aprilby 2015. The city is one of 25 takinv part in the federal Departmenftof Energy’s Solar Americza Cities initiative. As part of that, it’s developinbg a plan to generate 2.3 megawatts of sola electricity by 2011and 57.8 megawatts by which is its share of the states of Pennsylvania’s solar installation goal. To help it meet thoss goals, Nutter said Monday, the city is looking to replace the roof at its fleet workshop with a roof that producess solar energy and has formulater plans forbuilding large-scale solar arrays at Philadelphiq Water Department locations.
Wednesday, October 19, 2011
Charlotte-area banks unsure about ARC loans - Phoenix Business Journal:
zvonkovaleoqim.blogspot.com
But Charlotte-area banks aren’t yet sure they want to sayingthey haven’t yet seen enougn details about the SBA The SBA recently unveiled plans to offer no-fee, deferred-payment loans to smallp companies as part of the Americanh Recovery and Reinvestment Act. The $350 million loan program is callerd America’s Recovery Capital Loan It’s distributed by commercial and the debtis 100% guaranteed by the SBA. The SBA will pay interesrt to the participating lenders on behalff ofthe borrowers. To qualify for an ARC loan, companiesz must demonstrate theyare “viable, for-profirt small businesses ...
and are experiencing immediatrfinancial hardship,” the SBA The loans are for up to They must be used to make paymentsz on existing debt so the busines s can use its revenue to fund other operational expenses. Repayment can be deferred for up to12 It’s part of the SBA’s expanded effort to help small businesses navigate through short-term, recession-relate distress. The program is scheduled to launchJune 15. But lendersz aren’t ready to commig to it. Area bankers are asking how they’re supposed to determine what qualifies asa “viable” businesds that’s experiencing “immediate financial hardship.
” And bankers also say they stilpl don’t know what interest rates the ARC loanss will carry — a key piece of informationh in determining their level of participation. “We’re studying it,” says John Guy, seniore vice president of SBA strategiesat . “The timeline didn’gt quite accommodate all the lenders that need the specific Guy notes Fifth Third has launched an effort to boost itsSBA lending. And he says customersd are already asking the bank aboug theARC program. But he can’ft give them many answers until he learns what interest rate the SBA will pay on the along withother details.
“We’re asking people to be patient,” he “The press is way ahead of the George McAllister, regional director of the , says he gets callas on a regular basiws from business owners interested in the “Based on what I know righf now, I think it will be a very populat program,” he says. “It certainly fits a need.” At , Chieg Executive Scott Anderson says his teamof small-business bankers recently attended an informational session on the ARC programk but left unsure of key information. “Our comments echo everyonwe else,” he says.
“There’s not even a standarr definitionof what’s a viable SBA spokeswoman Eileen Joyce says the viabilityh question is a determination for lenders to make at their discretion. Her agency is working as fast as possible to get othef details to lenders byJune 15. She says the ARC program is a challenge forSBA officials, too, becauswe it’s the first of its She says Charlotte-area banks “are all in a wait-and-sed mode” on whether they’ll participate. “It’s a whole differentf way of putting together aloan That’s the hard part.
” Joyce says small-business ownerds are “very anxious” about the program, hoping it will roll out in time to meet theirt growing needs.
But Charlotte-area banks aren’t yet sure they want to sayingthey haven’t yet seen enougn details about the SBA The SBA recently unveiled plans to offer no-fee, deferred-payment loans to smallp companies as part of the Americanh Recovery and Reinvestment Act. The $350 million loan program is callerd America’s Recovery Capital Loan It’s distributed by commercial and the debtis 100% guaranteed by the SBA. The SBA will pay interesrt to the participating lenders on behalff ofthe borrowers. To qualify for an ARC loan, companiesz must demonstrate theyare “viable, for-profirt small businesses ...
and are experiencing immediatrfinancial hardship,” the SBA The loans are for up to They must be used to make paymentsz on existing debt so the busines s can use its revenue to fund other operational expenses. Repayment can be deferred for up to12 It’s part of the SBA’s expanded effort to help small businesses navigate through short-term, recession-relate distress. The program is scheduled to launchJune 15. But lendersz aren’t ready to commig to it. Area bankers are asking how they’re supposed to determine what qualifies asa “viable” businesds that’s experiencing “immediate financial hardship.
” And bankers also say they stilpl don’t know what interest rates the ARC loanss will carry — a key piece of informationh in determining their level of participation. “We’re studying it,” says John Guy, seniore vice president of SBA strategiesat . “The timeline didn’gt quite accommodate all the lenders that need the specific Guy notes Fifth Third has launched an effort to boost itsSBA lending. And he says customersd are already asking the bank aboug theARC program. But he can’ft give them many answers until he learns what interest rate the SBA will pay on the along withother details.
“We’re asking people to be patient,” he “The press is way ahead of the George McAllister, regional director of the , says he gets callas on a regular basiws from business owners interested in the “Based on what I know righf now, I think it will be a very populat program,” he says. “It certainly fits a need.” At , Chieg Executive Scott Anderson says his teamof small-business bankers recently attended an informational session on the ARC programk but left unsure of key information. “Our comments echo everyonwe else,” he says.
“There’s not even a standarr definitionof what’s a viable SBA spokeswoman Eileen Joyce says the viabilityh question is a determination for lenders to make at their discretion. Her agency is working as fast as possible to get othef details to lenders byJune 15. She says the ARC program is a challenge forSBA officials, too, becauswe it’s the first of its She says Charlotte-area banks “are all in a wait-and-sed mode” on whether they’ll participate. “It’s a whole differentf way of putting together aloan That’s the hard part.
” Joyce says small-business ownerds are “very anxious” about the program, hoping it will roll out in time to meet theirt growing needs.
Sunday, October 16, 2011
Occupy Wall Street's anger isn't enough: How the push for change can be sustained - New York Daily News
vykyvimote.wordpress.com
New York Daily News | Occupy Wall Street's anger isn't enough: How the push for change can be sustained New York Daily News BY Reverend Patrick O'Connor AND Mike Gecan Occupy Wall Street protesters have been heard around the world, but here's how they can make a change. How long do you think the Occupy Wall Street movement will last? It's a flash in the pan! ... |
Friday, October 14, 2011
SBA emergency bridge loans expected to go quickly - Phoenix Business Journal:
lebexab.wordpress.com
The SBA will begin accepting applications from lenders for itsnew America’xs Recovery Capital loans June 15. The which were created by the economivcstimulus legislation, will help small businesses make payment on existing loans. Through this program, small businessews can borrow upto $35,000 to make up to six monthx of payments on qualifying loans, including credit cards if that debt was used for businesx purposes. The loans will be made throughh private-sector lenders, not the SBA itself. Borrowers won’t have to start repayingy the ARC loans until a year after they receivse their last ARCloan disbursement.
They then will pay back the principalp on the ARC loan over five Smallbusinesses won’t have to pay interesty on the loans. Instead, the SBA will pay the lenderf a monthly interest rate of prime plus 2percentage points. The SBA also will guarantewe 100% of the loan’s amount. To be eligible for the small businesses must show they were profitable or had positivs cash flow in at least one of the past two Future cash flow projections must demonstratee that the businesses will be able to repay their including theARC loan.
Borrowers can’t be more than 60 days past due on any loan beinvg paid through anARC loan, and they must have a businese credit score that is acceptable to the SBA. ARC loans can’t be used to make paymentz on an SBA loan made prioerto Feb. 17, 2009, the date the economic stimulus billbecame law. To be small businesses also must show that they are experiencingy an immediatefinancial hardship, such as decliningh sales or difficulty making payroll.
The SBA hopes smalkl businesses will use the ARC loanssas “breathing room to rework theirf business strategy in order to positioj themselves for future success,” said Eric who heads the agency’s Office of Capitalo Access. Most of the loans probably will be made throughj lenders that already have a business relationshipo withthe borrowers, Zarnikow said. Smalk businesses who are interested in an ARC loan should first contact theircurrent lender, accordingy to the SBA. Lenders that currentlu don’t make SBA-guaranteed loans can join the program, in a procesas that takes abouta week, he said. The agenct has enough funding for the ARC program to make about 10,000 loans.
Zarnikow expects high demand forthesde loans, but he said it may take some time for some lendersz to ramp up for this new The loans will be available until the mone y for the program runs out or until 30, 2010, whichever comes Zarnikow expects the loans “will go pretthy quickly.” Tony Wilkinson, president and CEO of the National Association of Government Guaranteed Lenders, agreeed the “funding will be exhaustexd rather quickly.” Some lenders already are ready to submitg applications for the program, and were just waiting for the SBA’s June 8 guidance to lenders on program he said.
“I think a lot of lenderes will find theparameters acceptable,” he For lenders who have customers who were profitable in took a hit in 2008 and could surviv this year with a littlwe help, “this is the product,” Wilkinson The chair of the House committede that oversees the Smallk Business Administration criticized the agency’s new loan program for automobiled dealers. The SBA recently announced that it temporarily will allo w auto dealers to useits 7(a) business loan program to financde vehicle inventory. Many lenders had stopped makintgthese so-called floorplan loans to auto dealers. Rep. Nydia D-N.Y.
, who chairs the House Smalll Business Committee, fears “therr is a significantly higher risk ofloan defaults” on these floorplan loans. This could force the SBA to increas e the subsidy ratefor 7(a) loans, which would make the loans costlierr for future borrowers.
The SBA will begin accepting applications from lenders for itsnew America’xs Recovery Capital loans June 15. The which were created by the economivcstimulus legislation, will help small businesses make payment on existing loans. Through this program, small businessews can borrow upto $35,000 to make up to six monthx of payments on qualifying loans, including credit cards if that debt was used for businesx purposes. The loans will be made throughh private-sector lenders, not the SBA itself. Borrowers won’t have to start repayingy the ARC loans until a year after they receivse their last ARCloan disbursement.
They then will pay back the principalp on the ARC loan over five Smallbusinesses won’t have to pay interesty on the loans. Instead, the SBA will pay the lenderf a monthly interest rate of prime plus 2percentage points. The SBA also will guarantewe 100% of the loan’s amount. To be eligible for the small businesses must show they were profitable or had positivs cash flow in at least one of the past two Future cash flow projections must demonstratee that the businesses will be able to repay their including theARC loan.
Borrowers can’t be more than 60 days past due on any loan beinvg paid through anARC loan, and they must have a businese credit score that is acceptable to the SBA. ARC loans can’t be used to make paymentz on an SBA loan made prioerto Feb. 17, 2009, the date the economic stimulus billbecame law. To be small businesses also must show that they are experiencingy an immediatefinancial hardship, such as decliningh sales or difficulty making payroll.
The SBA hopes smalkl businesses will use the ARC loanssas “breathing room to rework theirf business strategy in order to positioj themselves for future success,” said Eric who heads the agency’s Office of Capitalo Access. Most of the loans probably will be made throughj lenders that already have a business relationshipo withthe borrowers, Zarnikow said. Smalk businesses who are interested in an ARC loan should first contact theircurrent lender, accordingy to the SBA. Lenders that currentlu don’t make SBA-guaranteed loans can join the program, in a procesas that takes abouta week, he said. The agenct has enough funding for the ARC program to make about 10,000 loans.
Zarnikow expects high demand forthesde loans, but he said it may take some time for some lendersz to ramp up for this new The loans will be available until the mone y for the program runs out or until 30, 2010, whichever comes Zarnikow expects the loans “will go pretthy quickly.” Tony Wilkinson, president and CEO of the National Association of Government Guaranteed Lenders, agreeed the “funding will be exhaustexd rather quickly.” Some lenders already are ready to submitg applications for the program, and were just waiting for the SBA’s June 8 guidance to lenders on program he said.
“I think a lot of lenderes will find theparameters acceptable,” he For lenders who have customers who were profitable in took a hit in 2008 and could surviv this year with a littlwe help, “this is the product,” Wilkinson The chair of the House committede that oversees the Smallk Business Administration criticized the agency’s new loan program for automobiled dealers. The SBA recently announced that it temporarily will allo w auto dealers to useits 7(a) business loan program to financde vehicle inventory. Many lenders had stopped makintgthese so-called floorplan loans to auto dealers. Rep. Nydia D-N.Y.
, who chairs the House Smalll Business Committee, fears “therr is a significantly higher risk ofloan defaults” on these floorplan loans. This could force the SBA to increas e the subsidy ratefor 7(a) loans, which would make the loans costlierr for future borrowers.
Wednesday, October 12, 2011
Strickland opposes slots ballot issue - Business Courier of Cincinnati:
ucojaje.wordpress.com
Harris, R-Ashland, on Tuesday sent a letter to Strickland that includeds a draft of a joinft resolution to go forward on the vide o slots througha voter-approved constitutional The slots would be installed at up to sevehn locations in the state to be determinecd by the highest bidders, not necessarily at Ohio’w seven horse racing tracks as under Strickland’s The letter and resolution come a day afted Strickland, amid an ongoing stalemate over the state’sw two-year budget cycle begun last Wednesday, calledc a potential ballot initiative “utterly and totallu unacceptable” because, he said, Ohio funding future would be in hands.
Strickland in a press conference on Tuesdayy saidthe plan, while an attempt to resolv e the contention over the slots plan, “continues to fall short of the legislature’a responsibility to provide a balanced budget now.” “We cannot budget a ballot Strickland said. Absent a final budget and under temporary Strickland estimated thatthe state’s $3.2 billiomn deficit is widening by nearly $2 million a day. That’zs in part because some programs fundexd undera one-week temporary budget – in line for anothed one-week budget beginning Wednesday – will see reducesd or eliminated funding under the governor’s proposedx framework.
The only point of contention in that offered up nearly threeweeks ago, is the slotse plan, Strickland and other s have said. The slots plan, which the state has said could pullin $933 millio over two years to help plug the budget counts on the machine being operational by May 2010. With that Harris wrote in Tuesday’s “there is adequate time to seek voter approvak without impacting or delaying the revenue upon which your budgeftframework depends.” Strickland said that while revenur from the slots themselves won’t hit statr coffers until then, the state will see more than $400 millioh in licensing fees from the seven track s this fall should the plan be approved.
A key piece of letter states thatthe four-city casinol initiative headed to the November ballot would limit all gambling to four “rendering any legislative enactment of at horse racing tracks moot.” “Im that case, the revenue on which you are countinfg for Ohio schools would Harris wrote. Strickland said Tuesday that the proposerd amendment forthe $1 billionm casino plan doesn’t tie his hands on the videi slot machine plan instead, he said it strengthens his A piece of the casino amendmenty states that the plan will have no effect on activitiezs authorized under the lottery and bingo sections of the Ohio Legislative approval of the video slots plan woul be an expansion of the
Harris, R-Ashland, on Tuesday sent a letter to Strickland that includeds a draft of a joinft resolution to go forward on the vide o slots througha voter-approved constitutional The slots would be installed at up to sevehn locations in the state to be determinecd by the highest bidders, not necessarily at Ohio’w seven horse racing tracks as under Strickland’s The letter and resolution come a day afted Strickland, amid an ongoing stalemate over the state’sw two-year budget cycle begun last Wednesday, calledc a potential ballot initiative “utterly and totallu unacceptable” because, he said, Ohio funding future would be in hands.
Strickland in a press conference on Tuesdayy saidthe plan, while an attempt to resolv e the contention over the slots plan, “continues to fall short of the legislature’a responsibility to provide a balanced budget now.” “We cannot budget a ballot Strickland said. Absent a final budget and under temporary Strickland estimated thatthe state’s $3.2 billiomn deficit is widening by nearly $2 million a day. That’zs in part because some programs fundexd undera one-week temporary budget – in line for anothed one-week budget beginning Wednesday – will see reducesd or eliminated funding under the governor’s proposedx framework.
The only point of contention in that offered up nearly threeweeks ago, is the slotse plan, Strickland and other s have said. The slots plan, which the state has said could pullin $933 millio over two years to help plug the budget counts on the machine being operational by May 2010. With that Harris wrote in Tuesday’s “there is adequate time to seek voter approvak without impacting or delaying the revenue upon which your budgeftframework depends.” Strickland said that while revenur from the slots themselves won’t hit statr coffers until then, the state will see more than $400 millioh in licensing fees from the seven track s this fall should the plan be approved.
A key piece of letter states thatthe four-city casinol initiative headed to the November ballot would limit all gambling to four “rendering any legislative enactment of at horse racing tracks moot.” “Im that case, the revenue on which you are countinfg for Ohio schools would Harris wrote. Strickland said Tuesday that the proposerd amendment forthe $1 billionm casino plan doesn’t tie his hands on the videi slot machine plan instead, he said it strengthens his A piece of the casino amendmenty states that the plan will have no effect on activitiezs authorized under the lottery and bingo sections of the Ohio Legislative approval of the video slots plan woul be an expansion of the
Monday, October 10, 2011
An oncologist's opinion on prostate screening - Philadelphia Inquirer
husydow.wordpress.com
TopNews Arab Emirates | An oncologist's opinion on prostate screening Philadelphia Inquirer Curtis Miyamoto, chair of radiation oncology at Temple University Hospital, discussed the issues with Trishula Patel. Question: What is the PSA test, and what do you think of the new recommendations? Miyamoto: PSA, which stands for prostate-specific ... Dana-Farber slams new prostate-cancer test guidelines The trouble with prostate cancer tests |
Saturday, October 8, 2011
Destination Maternity key Sept. revenue metric up - BusinessWeek
http://www.helmitechnologies.com/resources/learning-center.html
Destination Maternity key Sept. revenue metric up BusinessWeek Destination Maternity Corp.'s September revenue at stores open at least a year edged up 0.2 percent. The maternity clothing retailer said expects its fourth-quarter earnings to come in toward the low end of its previously forecast. ... |
Thursday, October 6, 2011
Cosmopolites to make Caribbean Cruise - Frost Illustrated
http://www.punjabjustice.org/045.htm
Frost Illustrated | Cosmopolites to make Caribbean Cruise Frost Illustrated FORT WAYNE-Leave all your cares behind and prepare to enjoy the vacation of a lifetime when the Cosmopolites Business & Professional Women's Club cruise to the Western Caribbean, June 9 through June 16, 2012 aboard one of the world's most luxurious ... |
Monday, October 3, 2011
California settles with Kmart, sues Target - Los Angeles Business from bizjournals:
wanuso.wordpress.com
The state’s attorney general, Jerry Brown, joined 20 district attorneys and the Los AngeledsCity Attorney, filed a suit against Minneapolis-based Target TGT), saying it sent hazardous wastwe to various landfills in violation of state law. The suit is meantt to stop the practices. In news Target said it has been cooperating withthe AG’s offic e for three years on this matter and that it is committed to complying with all environmental laws.
According to court Target has180 facilities, including stores and warehouses, in Among the alleged incidents named in the suit was a Marchy 2009 instance of a San Bernardino Countuy Target store sending a photo-processing unit with toxicv liquid and other hazardous materials to a local landfillo not authorized to receive such waste. Separately, Browmn and the Riverside, Ventura and San Joaquin County districgt attorneys settled a similar dumping suit withfor $8.655 million. Kmart, owned by (NASDAQ: agreed to a settlement that includescivio penalties, legal costs and some money to boosrt protection of the environment in the state.
The state’s attorney general, Jerry Brown, joined 20 district attorneys and the Los AngeledsCity Attorney, filed a suit against Minneapolis-based Target TGT), saying it sent hazardous wastwe to various landfills in violation of state law. The suit is meantt to stop the practices. In news Target said it has been cooperating withthe AG’s offic e for three years on this matter and that it is committed to complying with all environmental laws.
According to court Target has180 facilities, including stores and warehouses, in Among the alleged incidents named in the suit was a Marchy 2009 instance of a San Bernardino Countuy Target store sending a photo-processing unit with toxicv liquid and other hazardous materials to a local landfillo not authorized to receive such waste. Separately, Browmn and the Riverside, Ventura and San Joaquin County districgt attorneys settled a similar dumping suit withfor $8.655 million. Kmart, owned by (NASDAQ: agreed to a settlement that includescivio penalties, legal costs and some money to boosrt protection of the environment in the state.
Saturday, October 1, 2011
Business First of Buffalo: Buffalo Commercial Real Estate Listings - View Commercial Real Estate
stony-coating.blogspot.com
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