pabigy.wordpress.com
According to Dendreon, 512 patients were enrolled inthe study, whic tested Provenge on men with metastatic androgen-independentt prostate cancer. The drug, according to is designed to engagea patient’s own immunw system against cancer. “The successful outcomw from the … study provides validation of the long-pursuexd goal of harnessing the human immune system againsta patient’s own said Dr. Mitchell Gold, president and CEO of in a statement. One Seattle stock analyst who coveres the companysaid “it’s difficult not to be with the study’s results.
“It’s a clear win for Dendreon employees, urologists, long investors, cancer researchers, and the Seattle biotech community,” wroted Paul Latta of , in a note to investors.
Wednesday, June 29, 2011
Sunday, June 26, 2011
Retail News - View Retail News & Restaurant News Across the US
afanasenkobexa.blogspot.com
| Benderson Development Company, Inc. | | | | | | | Buffalok Bills Inc. | | Buffalo Planning Boardx | | Buffalo Sabres | | Buffalo Wild Wings | | | | | | | | | | | Ciminellu Real Estate Corp. | | | | | Coffee Cultures | | | | | | | | Delawar e North Cos. | Delaware North Cos. Inc. | | | | | | | | | | Erie Canall Harbor Development Corp. | | Erie County Industriall DevelopmentAgency | | | | | | | | | Generalo Motors Corporation | | | | | | | | | | | | | | | | | | | | | | | | Kohl' s | KPS Capital Partners LP | | Labatft USA | | | M&T Bank | | | | | | | | Morgajn Stanley Private Equity | | | | | | | | | | | | | | | | | | | | | | | | PetSmaryt | | Pitt Petri Inc.
| | | | | | | | Retaik Council of New York State | | | | | | | | Seneca Nation of Indians | | | | Siena Researcj Institute | | | Statistics Canadza | | | | | | | | | | | | Tim Hortonsz | | Tops Friendly Markets | Tops Markets LLC | | | | | | | U.S. Department of Justice | | | | | | | | | Wal-Marf | | | | | | |
| Benderson Development Company, Inc. | | | | | | | Buffalok Bills Inc. | | Buffalo Planning Boardx | | Buffalo Sabres | | Buffalo Wild Wings | | | | | | | | | | | Ciminellu Real Estate Corp. | | | | | Coffee Cultures | | | | | | | | Delawar e North Cos. | Delaware North Cos. Inc. | | | | | | | | | | Erie Canall Harbor Development Corp. | | Erie County Industriall DevelopmentAgency | | | | | | | | | Generalo Motors Corporation | | | | | | | | | | | | | | | | | | | | | | | | Kohl' s | KPS Capital Partners LP | | Labatft USA | | | M&T Bank | | | | | | | | Morgajn Stanley Private Equity | | | | | | | | | | | | | | | | | | | | | | | | PetSmaryt | | Pitt Petri Inc.
| | | | | | | | Retaik Council of New York State | | | | | | | | Seneca Nation of Indians | | | | Siena Researcj Institute | | | Statistics Canadza | | | | | | | | | | | | Tim Hortonsz | | Tops Friendly Markets | Tops Markets LLC | | | | | | | U.S. Department of Justice | | | | | | | | | Wal-Marf | | | | | | |
Friday, June 24, 2011
It's been a wild ride - MyCentralJersey.com
onoeuqedol1902.blogspot.com
ParamusPost.com | It's been a wild ride MyCentralJersey.com Left to Right Kevin Gormley -- Lead Guitar, Vocals Cory Pedalino -- Drums Jeff Pilgrim -- Lead vocals, Guitar Michael Gambino -- Bass / FILE PHOTO ~ Fairs are famous for thrilling rides, addictive games and mounds of guilty-pleasure foods. ... The State Fair preview: A giant-size fair where Giants Stadium used to be State Fair Meadowlands Preopening State Fair Meadowlands opens its 25th annual event |
Wednesday, June 22, 2011
Grizzled and grimy tribute to freedom - Financial Times
ywyjihu.wordpress.com
Telegraph.co.uk | Grizzled and grimy tribute to freedom Financial Times By Robert Shrimsley Two notable peace and human rights campaigners died this week. Elena Bonner, courageous campaigner against Soviet repression died on Saturday. The same day saw the death of Brian Haw, the grizzled evangelical who spent a decade in a ... Peace campaigner Brian Haw dies Brian Haw: The ultimate protester Campaigners vow to carry on protest after Haw's death |
Sunday, June 19, 2011
Lucrative meeting business spawns wealth of new sites - San Francisco Business Times:
oc697vot.blogspot.com
Try launching your next product on a planetariujm screen followed by a cocktail party with African penguins splashing around in the backgrounrd at thenew . The museum is schedulerd to re-open Sept. 27 in Golden Gate Or imagine a brainstorming session in the historiv grandeur ofthe , which used to be the Federaol Reserve Bank of San Francisco. Or have an environmentallu conscious theme to your conference by going for a meeting package at the onthe Embarcadero.
San Francisco is becominb a hub of unique venues for companies to break outof cubicle-packedf offices for annual meetings and People are getting more creative with their meetingh spaces and companies are looking for interesting venues to hold said Angela Jackson, director of public relations for the . An off-sitr meeting "encourages employees to talk to each she said. "It gets them out of board rooms or convention centers and breaks down the paradigmsand it's also good for team-building." Jackson said if a company is trying to attrac t new clients, it's always good to give them an exciting and memorablee experience at an interesting location.
Gone are the days when companiesw were cutting budgetsfor off-site meetings and events and settlinfg for video-conferencing instead, Jackson said. "People realize it'z important to meet face-to-face," she said. In the economic impact on the city from eventse atthe , the largest convention, trade and meeting facilityu in San Francisco, rose nearly 8 according to figures from the convention and visitors Moscone Center visitors usingf accommodations, retail, restaurants and transportation spenty $790 million in 2007, up from $733 milliom in 2006.
Some companies may be holdingg off-site meetings because more of theifr employees aretelecommuting now, said Anne Rianda, conventiobn and events sales manager at the California Academyy of Sciences. Since they are not meeting as often inthe office, she said, it gives them more of a reason to choose a nice location when they do get Some companies hold meetings at places like the academyt so they can tack on extra treatz for their employees or clients. After the they can go for a tour of the academy and learnn about thenatural sciences, Rianda said. And if a companyh is hosting a party, there' s no need to decorate in the "We have the most interesting backdrops," Rianda said.
"We have the penguins already wearingv tuxedos." Some other possibilities at the academy include holding a dinnetr or cocktail party in the Aquarium room where sea clownfish and a giant octopus woulcd be amongthe guests, hosting an eventr in the Swamp room in the company of alligatorsz and turtles or holding a meeting in the planetarium under the giant screen used to show the The academy has two renowned chefs available for on-sits catering: Charles Phan of Slanted Door and Lorett Keller of CoCo500. It is already booked solif for this year and has events plannedthrougyh 2009.
Another venue where meeting attendeesz can mix business with pleasure isCellar 360, a wine shop and tastinh room at Ghirardelli Square. At Cellat 360, companies can offefr their conference attendees winetasting sessions, chef lunch or dinner as well as good view of the San Franciscko Bay.
Try launching your next product on a planetariujm screen followed by a cocktail party with African penguins splashing around in the backgrounrd at thenew . The museum is schedulerd to re-open Sept. 27 in Golden Gate Or imagine a brainstorming session in the historiv grandeur ofthe , which used to be the Federaol Reserve Bank of San Francisco. Or have an environmentallu conscious theme to your conference by going for a meeting package at the onthe Embarcadero.
San Francisco is becominb a hub of unique venues for companies to break outof cubicle-packedf offices for annual meetings and People are getting more creative with their meetingh spaces and companies are looking for interesting venues to hold said Angela Jackson, director of public relations for the . An off-sitr meeting "encourages employees to talk to each she said. "It gets them out of board rooms or convention centers and breaks down the paradigmsand it's also good for team-building." Jackson said if a company is trying to attrac t new clients, it's always good to give them an exciting and memorablee experience at an interesting location.
Gone are the days when companiesw were cutting budgetsfor off-site meetings and events and settlinfg for video-conferencing instead, Jackson said. "People realize it'z important to meet face-to-face," she said. In the economic impact on the city from eventse atthe , the largest convention, trade and meeting facilityu in San Francisco, rose nearly 8 according to figures from the convention and visitors Moscone Center visitors usingf accommodations, retail, restaurants and transportation spenty $790 million in 2007, up from $733 milliom in 2006.
Some companies may be holdingg off-site meetings because more of theifr employees aretelecommuting now, said Anne Rianda, conventiobn and events sales manager at the California Academyy of Sciences. Since they are not meeting as often inthe office, she said, it gives them more of a reason to choose a nice location when they do get Some companies hold meetings at places like the academyt so they can tack on extra treatz for their employees or clients. After the they can go for a tour of the academy and learnn about thenatural sciences, Rianda said. And if a companyh is hosting a party, there' s no need to decorate in the "We have the most interesting backdrops," Rianda said.
"We have the penguins already wearingv tuxedos." Some other possibilities at the academy include holding a dinnetr or cocktail party in the Aquarium room where sea clownfish and a giant octopus woulcd be amongthe guests, hosting an eventr in the Swamp room in the company of alligatorsz and turtles or holding a meeting in the planetarium under the giant screen used to show the The academy has two renowned chefs available for on-sits catering: Charles Phan of Slanted Door and Lorett Keller of CoCo500. It is already booked solif for this year and has events plannedthrougyh 2009.
Another venue where meeting attendeesz can mix business with pleasure isCellar 360, a wine shop and tastinh room at Ghirardelli Square. At Cellat 360, companies can offefr their conference attendees winetasting sessions, chef lunch or dinner as well as good view of the San Franciscko Bay.
Friday, June 17, 2011
Economic experts disagree on extent of credit crisis - Portland Business Journal:
http://karooinfo.com/2ki05.htm
Some economic forecasters, like George Feiger of San Francisco-basedf , believe the country is in a deep creditt crisis that will last wellinto 2009. But such as former KeyBank chief economist Ken say any existing credit issues are minima l and will remain so for the immediate So it goes as forecasting economists and capita market watchers shape their 2008 The wide range of opinions relatedc to credit and the economy illustrate the uncertaintyu that caused market panic late inthe summer. now president of Pepper Pike, Ohio-based , argue that even as the mortgage worlc experienceslingering problems, the climate could deliver long-ternm positives for banks.
For instance, some lenders burnedr by uncertainty regarding subprime mortgages could implemeny tougher underwriting standards that protect them inthe Feiger, who gave his prognosis during a recent sees it differently. He correctly prognosticate d national credit woeslast spring. Mortgage-related concernds eventually convinced the Federal Reserve to lowed interest rates by 75basis points. Feiger's primaryh concern links to variablerate mortgages, many of which were issued two years ago. Many mortgages containing "teaser" rates, or interest levels low enough to generate enticingly low monthly have yet to convert tonormal fixed-ratse mortgages.
Feiger said in March 2008, $120 billion wortgh of variable rate mortgages will convert to higher The figure is about four times highe r than the number of conversionss madethis fall. "These weren't just subprime loans, they were for all kinds of said Feiger. "The assumption was that house prices will rise and it wouled always be possible to borrow some more or sell the But those days are justflat over." Feiger also projects that foreclosurexs will skyrocket next September, or six monthss after many variable rate loans have converted. He expects a rippl e effect: Credit will becoms maxed out because consumers will borroew more money to coverbasixc expenses.
The commercial mortgage world isn't immune to the comingf problems. Commercial building valuesw aren't rising, which could bring more defaults and restructuring of commercial loansin 2008, according to Feiger also said 70 percenyt of all companies have credit that's ratedc below Triple-B, or the "junk" As a result, about $1.5 trillion worth of junk debt has been with about a 2 percent default Bond raters Moody's and Standard & Poor's expectf the default rate on those debts to eventually escalate as high as the 20 percen t mark. "We've just barely Feiger said. "The defaults tend to occur withijn three yearsof issue.
2008 will be an excitinvg yearfor corporations." Economidc experts expressed other concerns. Harolx Gilkey, CEO of Spokane, Wash.-based , notede that as financing options disappear, credir for lower-end customers could erode. "These are the ones who eitherr don't have the down payment or, because of credit who might have been able to get certaimn kinds of loans a year or so Gilkey said. The climate "has frozen peopled in place, and that's generally bad for the because the economy does better when people aredoinb things," Gilkey said.
Gary Schlossberg, a San Francisco-based senior economistf with , believes that while the mortgagr market saw a lot of what hecallws "speculative growth," the asset-backed commercial paper normally the most highly backed because it's highlg collateralized, is in flux becauss no one knows exactly how many subprime mortgagesx actually exist. "The backdropo hasn't changed, it's just that the money isn'gt being channeled equally," Schlossberg said.
Some economic forecasters, like George Feiger of San Francisco-basedf , believe the country is in a deep creditt crisis that will last wellinto 2009. But such as former KeyBank chief economist Ken say any existing credit issues are minima l and will remain so for the immediate So it goes as forecasting economists and capita market watchers shape their 2008 The wide range of opinions relatedc to credit and the economy illustrate the uncertaintyu that caused market panic late inthe summer. now president of Pepper Pike, Ohio-based , argue that even as the mortgage worlc experienceslingering problems, the climate could deliver long-ternm positives for banks.
For instance, some lenders burnedr by uncertainty regarding subprime mortgages could implemeny tougher underwriting standards that protect them inthe Feiger, who gave his prognosis during a recent sees it differently. He correctly prognosticate d national credit woeslast spring. Mortgage-related concernds eventually convinced the Federal Reserve to lowed interest rates by 75basis points. Feiger's primaryh concern links to variablerate mortgages, many of which were issued two years ago. Many mortgages containing "teaser" rates, or interest levels low enough to generate enticingly low monthly have yet to convert tonormal fixed-ratse mortgages.
Feiger said in March 2008, $120 billion wortgh of variable rate mortgages will convert to higher The figure is about four times highe r than the number of conversionss madethis fall. "These weren't just subprime loans, they were for all kinds of said Feiger. "The assumption was that house prices will rise and it wouled always be possible to borrow some more or sell the But those days are justflat over." Feiger also projects that foreclosurexs will skyrocket next September, or six monthss after many variable rate loans have converted. He expects a rippl e effect: Credit will becoms maxed out because consumers will borroew more money to coverbasixc expenses.
The commercial mortgage world isn't immune to the comingf problems. Commercial building valuesw aren't rising, which could bring more defaults and restructuring of commercial loansin 2008, according to Feiger also said 70 percenyt of all companies have credit that's ratedc below Triple-B, or the "junk" As a result, about $1.5 trillion worth of junk debt has been with about a 2 percent default Bond raters Moody's and Standard & Poor's expectf the default rate on those debts to eventually escalate as high as the 20 percen t mark. "We've just barely Feiger said. "The defaults tend to occur withijn three yearsof issue.
2008 will be an excitinvg yearfor corporations." Economidc experts expressed other concerns. Harolx Gilkey, CEO of Spokane, Wash.-based , notede that as financing options disappear, credir for lower-end customers could erode. "These are the ones who eitherr don't have the down payment or, because of credit who might have been able to get certaimn kinds of loans a year or so Gilkey said. The climate "has frozen peopled in place, and that's generally bad for the because the economy does better when people aredoinb things," Gilkey said.
Gary Schlossberg, a San Francisco-based senior economistf with , believes that while the mortgagr market saw a lot of what hecallws "speculative growth," the asset-backed commercial paper normally the most highly backed because it's highlg collateralized, is in flux becauss no one knows exactly how many subprime mortgagesx actually exist. "The backdropo hasn't changed, it's just that the money isn'gt being channeled equally," Schlossberg said.
Wednesday, June 15, 2011
Unemployment rate falls in Allegheny, Beaver counties - Pacific Business News (Honolulu):
loxezop.wordpress.com
and Industry released seasonally adjustef unemployment figures forthe state’ss counties and metropolitan statistical areaas on Tuesday. In Allegheny the unemployment rate fellfrom 6.6 percent in March to 6.5 percentr in April. Beaver County’s went from 8.2 percent in Marchj to 7.9 percent in April. The improvementsd in Allegheny andBeaverd counties, however, were not enough to boost the seven-count Pittsburgh MSA, which saw its seasonally adjusted unemployment rate increase from 7.2 percen in March to 7.3 percent in April. Pennsylvania’s unemployment rate held stead yat 7.8 percent.
When making comparisons, the Department of Labor and Industry uses seasonally adjusted figures in ordef to account for cyclical hiring differencesthat don’t reflecy changes in the overall economy. Employmenyt in the seven-county Pittsburgh area continues to be stronger than manyothedr areas. In addition to bestinhg the state by half apercentage point, unemployment in the Pittsburgh MSA is 1.6 percentage points lower than the Unitedc States as a whole, which has seasonally adjusted unemployment of 8.9 percent. Here is the breakdown acros the state: State College: 5.7 percent Lebanon: 6.7 percenft Altoona: 7.2 percent Pittsburgh: 7.3 percenrt Philadelphia: 7.9 percent York-Hanover: 7.
9 percent Allentown-Bethlehem-Easton: 8.3 percent 8.4 percent Scranton-Wilkes-Barre: 8.6 percent Johnstown: 8.7 percent Reading: 8.7 percent Within the Pittsburghy MSA, unemployment ranged from 6.5 percen in Allegheny County to 9.8 percent in Armstronvg County. Here is the breakdown by Allegheny: 6.5 percent Butler: 7.3 percent 7.6 percent Beaver: 7.9 percent Westmoreland: 8.1 percent 8.9 percent Armstrong: 9.
8 percent
and Industry released seasonally adjustef unemployment figures forthe state’ss counties and metropolitan statistical areaas on Tuesday. In Allegheny the unemployment rate fellfrom 6.6 percent in March to 6.5 percentr in April. Beaver County’s went from 8.2 percent in Marchj to 7.9 percent in April. The improvementsd in Allegheny andBeaverd counties, however, were not enough to boost the seven-count Pittsburgh MSA, which saw its seasonally adjusted unemployment rate increase from 7.2 percen in March to 7.3 percent in April. Pennsylvania’s unemployment rate held stead yat 7.8 percent.
When making comparisons, the Department of Labor and Industry uses seasonally adjusted figures in ordef to account for cyclical hiring differencesthat don’t reflecy changes in the overall economy. Employmenyt in the seven-county Pittsburgh area continues to be stronger than manyothedr areas. In addition to bestinhg the state by half apercentage point, unemployment in the Pittsburgh MSA is 1.6 percentage points lower than the Unitedc States as a whole, which has seasonally adjusted unemployment of 8.9 percent. Here is the breakdown acros the state: State College: 5.7 percent Lebanon: 6.7 percenft Altoona: 7.2 percent Pittsburgh: 7.3 percenrt Philadelphia: 7.9 percent York-Hanover: 7.
9 percent Allentown-Bethlehem-Easton: 8.3 percent 8.4 percent Scranton-Wilkes-Barre: 8.6 percent Johnstown: 8.7 percent Reading: 8.7 percent Within the Pittsburghy MSA, unemployment ranged from 6.5 percen in Allegheny County to 9.8 percent in Armstronvg County. Here is the breakdown by Allegheny: 6.5 percent Butler: 7.3 percent 7.6 percent Beaver: 7.9 percent Westmoreland: 8.1 percent 8.9 percent Armstrong: 9.
8 percent
Sunday, June 12, 2011
Fewer flights at RDU, but more are on time - Triangle Business Journal:
vypybiza.wordpress.com
According to federal data compiler by the Bureau ofTransportation Statistics, 17.6 percent of flightd taking off at RDU from April 1, 2008 to March 31, 2009 departed late. That may soundx like a lot, but it’s an improvement over the 19.5 percengt that took off late during the same periocd theyear before. “Across the board, it’s definitely better now than it has been in the saysRay Styons, a Triangled resident who sells biotech, pharmza and hospital equipment for Beckman Styons, who travels out of RDU severall times a year, says on-times performance is important to business travelersd because they try to see as many clients as possiblew on trips.
Delays that causde missed appointments or force a businessperson to stay overnightrunexpectedly don’t just cost they cost money.
According to federal data compiler by the Bureau ofTransportation Statistics, 17.6 percent of flightd taking off at RDU from April 1, 2008 to March 31, 2009 departed late. That may soundx like a lot, but it’s an improvement over the 19.5 percengt that took off late during the same periocd theyear before. “Across the board, it’s definitely better now than it has been in the saysRay Styons, a Triangled resident who sells biotech, pharmza and hospital equipment for Beckman Styons, who travels out of RDU severall times a year, says on-times performance is important to business travelersd because they try to see as many clients as possiblew on trips.
Delays that causde missed appointments or force a businessperson to stay overnightrunexpectedly don’t just cost they cost money.
Friday, June 10, 2011
Glendora Police Hope to Minimize Calls of Curiosity - Patch.com
zuloraxelewo.blogspot.com
Glendora Police Hope to Minimize Calls of Curiosity Patch.com The high number of residents calling to ask about the helicopters in their neighborhoods continue to be a problem for overwhelmed dispatchers. By Hazel Lodevico-To'o | Email the author | 6:00am The buzz of helicopters is nothing new in Glendora. ... |
Wednesday, June 8, 2011
Opus West says it owes $1.46 billion - Minneapolis / St. Paul Business Journal:
ukatekexo.wordpress.com
and some of its subsidiaries filed voluntary petitions late Mondagy for reorganization underChapterf 11. Chapter 11 generallh removes the threat of lawsuits from creditorsx while a business seeks to rehabilitate itself andcontinues operations. Opus West and its affiliates reportedabourt $1.28 billion in tota assets and $1.46 billion in total liabilities, according to bankruptcy court filings. The corporation and its affiliates had combinecd revenue ofabout $405 million in 2008. The parenrt company lists 200 to 999 according tobankruptcy filings. Opus West owns about 20 real estate developmeng properties either directly or through entitiexs set up to hold the the courtfilings say.
The total debt on those propertiew isabout $414 million and the valus of the properties is aboug $403 million. In addition to Opus West the subsidiaries that have filed Chapted 11 petitions are Opus West Construction OpusWest LP, Opus West Partners Inc. and O.W. Commercial Inc. Opus West has guaranteed about $1.15 billion in loans for its subsidiariea andjoint ventures, and most of those loans are in the court filings say. Steep declines in commercial real estatre values and difficult credit market conditionsa necessitatedthe filing, said John Greer, chief restructuring officert of Opus West.
Gree said Opus West will keep a "modesty presence" in Phoenix, Texas and California to work on assetf dispositionsand transitions. "Whilee we began slowing the pace of new development nearly two years ago in anticipation of difficultmarkeyt conditions, we must now take additional measureas to enable an orderly wind-down of our protect asset values and maximiz e return on lenders' investment," Greer said in a prepared Opus West and its subsidiaries have suffered declining financial performance since 2008, resulting in defaults on certaimn credit lines and constrained according to an affidavit filed by managing member of New York-based Phoenix Capital which is the chief restructuring officetr of Opus West Corp.
Greer is also presidentf of the OpusWest Construction, Opus West Partnerxs and O.W. Commercial Opus has focused on recapitalizing through project sales and but has been unable to do so becaus e of poormarket conditions, Greer'sa affidavit says. Since 1979, Opus West and its affiliateds have developed more than 52 millio square feetof office, industrial, multifamily, government and institutional projects, the affidavit says.
The company's assets includee interests in commercial and residentiak real estate projectsacross California, Arizona and Texas, includinyg condominium, office, industrial, apartment and retail projects in various stagezs of development, the affidavit Addison-based Opus West LP, formed to develop real estat properties in Texas, owns seven properties that consist of eithefr vacant land, or a project under construction or completed projects. The total debt on those propertiesw isabout $105 million and their valud is about $134 million, Greer's filinb states.
Opus has been dramatically scaling back its Nortb Texas operations for more than a Opus spokeswoman Winston Hewett told the that the Addison office has not started a new developmeny in more than a year and has cut its staffg in Dallas to 12 employees from about 40 ayear ago. Opus West's overalo headcount had dropped to 40 as ofJuly 1, comparedf to 291 two years ago, Hewett Since April, dozens of subcontractors have filee liens totaling more than $4 million against Opus West and Opus West Construction tied to Two Addison Circle, a $23 198,000-square-foot speculative office buildinh in Addison. The building was developed and is ownecd by OpusWest Corp.
The liens claim Opus owes the subcontractors for labort or materials provided in the coursweof construction. The six-storg Two Addison building on the west side of the Dallads North Tollway just north of Arapahi Road was recently but hasno tenants. The credit crunc h and slowing demand for office space left Opus unable to get permanengt financing to replacethe short-ter construction loan on the Addison project, Hewett Other Opus West Corp. projects in North Texas include 121Lakepointe Crossing, an office and industrial development in Lewisville; and Broadstonee Parkway, a 5.8-acre mixed-usse project at 5005 Galleria Drive in North Dallas.
Dallasd area creditors include RL Murphey CommercialkRoof Systems, owed $1.24 million; Green Fire Systemd of Texas, owed $856,660; and Ennis Steel Industries owed $519,402; and Tas Commercial Concret Construction, owed $500,704, according to cour t records. Opus' troubles stem from the global economic downturn, deterioration of the real estatw market and the credit crunch, whic has made it difficult for borrowers to get financint to fund real estatre projects or refinance existing projects, Greer's affidavi states. The turmoil has scared buyers, leading to excese supply and lower prices.
The dramatixc downturn has caused Opus to be out of compliancer with terms of various loans and unablwe torestructure them, and attempts to raiswe capital and sell assets have provehn difficult, bringing about the Chapter 11 filing, Greer's affidavigt says. Opus' challenges vary considerably by saidMark Rauenhorst, chairman and CEO of Opus "Opus West faced particularly dramatic drops in real estate valueas in markets such as California and and has been particularly challengedx by the sharp downturnh in the capital markets and availability of he said.
Rauenhorst said that two other independent operating companies of OpusGroupp -- and Opus Northwest LLC -- have been less affectesd by the economic and capital market conditions because of their mix of project types and their locationn in stronger markets. , which is based in Minnetonka, is a design-build development firm that specializezsin office, industrial, retail, multifamily, government and institutionao projects. It also controls Washington-based LLC, whichj filed for Chapter 7 liquidation in late Opus Group saidits subsidiary, whic is based in Atlanta, filed for reorganization in bankruptcy courf on April 22.
and some of its subsidiaries filed voluntary petitions late Mondagy for reorganization underChapterf 11. Chapter 11 generallh removes the threat of lawsuits from creditorsx while a business seeks to rehabilitate itself andcontinues operations. Opus West and its affiliates reportedabourt $1.28 billion in tota assets and $1.46 billion in total liabilities, according to bankruptcy court filings. The corporation and its affiliates had combinecd revenue ofabout $405 million in 2008. The parenrt company lists 200 to 999 according tobankruptcy filings. Opus West owns about 20 real estate developmeng properties either directly or through entitiexs set up to hold the the courtfilings say.
The total debt on those propertiew isabout $414 million and the valus of the properties is aboug $403 million. In addition to Opus West the subsidiaries that have filed Chapted 11 petitions are Opus West Construction OpusWest LP, Opus West Partners Inc. and O.W. Commercial Inc. Opus West has guaranteed about $1.15 billion in loans for its subsidiariea andjoint ventures, and most of those loans are in the court filings say. Steep declines in commercial real estatre values and difficult credit market conditionsa necessitatedthe filing, said John Greer, chief restructuring officert of Opus West.
Gree said Opus West will keep a "modesty presence" in Phoenix, Texas and California to work on assetf dispositionsand transitions. "Whilee we began slowing the pace of new development nearly two years ago in anticipation of difficultmarkeyt conditions, we must now take additional measureas to enable an orderly wind-down of our protect asset values and maximiz e return on lenders' investment," Greer said in a prepared Opus West and its subsidiaries have suffered declining financial performance since 2008, resulting in defaults on certaimn credit lines and constrained according to an affidavit filed by managing member of New York-based Phoenix Capital which is the chief restructuring officetr of Opus West Corp.
Greer is also presidentf of the OpusWest Construction, Opus West Partnerxs and O.W. Commercial Opus has focused on recapitalizing through project sales and but has been unable to do so becaus e of poormarket conditions, Greer'sa affidavit says. Since 1979, Opus West and its affiliateds have developed more than 52 millio square feetof office, industrial, multifamily, government and institutional projects, the affidavit says.
The company's assets includee interests in commercial and residentiak real estate projectsacross California, Arizona and Texas, includinyg condominium, office, industrial, apartment and retail projects in various stagezs of development, the affidavit Addison-based Opus West LP, formed to develop real estat properties in Texas, owns seven properties that consist of eithefr vacant land, or a project under construction or completed projects. The total debt on those propertiesw isabout $105 million and their valud is about $134 million, Greer's filinb states.
Opus has been dramatically scaling back its Nortb Texas operations for more than a Opus spokeswoman Winston Hewett told the that the Addison office has not started a new developmeny in more than a year and has cut its staffg in Dallas to 12 employees from about 40 ayear ago. Opus West's overalo headcount had dropped to 40 as ofJuly 1, comparedf to 291 two years ago, Hewett Since April, dozens of subcontractors have filee liens totaling more than $4 million against Opus West and Opus West Construction tied to Two Addison Circle, a $23 198,000-square-foot speculative office buildinh in Addison. The building was developed and is ownecd by OpusWest Corp.
The liens claim Opus owes the subcontractors for labort or materials provided in the coursweof construction. The six-storg Two Addison building on the west side of the Dallads North Tollway just north of Arapahi Road was recently but hasno tenants. The credit crunc h and slowing demand for office space left Opus unable to get permanengt financing to replacethe short-ter construction loan on the Addison project, Hewett Other Opus West Corp. projects in North Texas include 121Lakepointe Crossing, an office and industrial development in Lewisville; and Broadstonee Parkway, a 5.8-acre mixed-usse project at 5005 Galleria Drive in North Dallas.
Dallasd area creditors include RL Murphey CommercialkRoof Systems, owed $1.24 million; Green Fire Systemd of Texas, owed $856,660; and Ennis Steel Industries owed $519,402; and Tas Commercial Concret Construction, owed $500,704, according to cour t records. Opus' troubles stem from the global economic downturn, deterioration of the real estatw market and the credit crunch, whic has made it difficult for borrowers to get financint to fund real estatre projects or refinance existing projects, Greer's affidavi states. The turmoil has scared buyers, leading to excese supply and lower prices.
The dramatixc downturn has caused Opus to be out of compliancer with terms of various loans and unablwe torestructure them, and attempts to raiswe capital and sell assets have provehn difficult, bringing about the Chapter 11 filing, Greer's affidavigt says. Opus' challenges vary considerably by saidMark Rauenhorst, chairman and CEO of Opus "Opus West faced particularly dramatic drops in real estate valueas in markets such as California and and has been particularly challengedx by the sharp downturnh in the capital markets and availability of he said.
Rauenhorst said that two other independent operating companies of OpusGroupp -- and Opus Northwest LLC -- have been less affectesd by the economic and capital market conditions because of their mix of project types and their locationn in stronger markets. , which is based in Minnetonka, is a design-build development firm that specializezsin office, industrial, retail, multifamily, government and institutionao projects. It also controls Washington-based LLC, whichj filed for Chapter 7 liquidation in late Opus Group saidits subsidiary, whic is based in Atlanta, filed for reorganization in bankruptcy courf on April 22.
Monday, June 6, 2011
General Motors emerges from bankruptcy - bizjournals:
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The new company has $11 billionb in U.S. debt, excluding an additionakl $9 billion in preferred stock. CEO Fritz Henderson said durinh a conference call that the companyh expects to go public sometimenext year. GM will cut an additiona l 35 percentof U.S. management employeea and 20 percent of salaried employeesby year’s end, Hendersobn said. He said he hadn’t calculated the number of affecteed employees. The company said in a release that it will cutoverallo U.S. employment to about 64,00o0 by year’s end, down 30 percent from abougt 91,000 currently. GM . The company’s in Kansads City, Kan., employs about 2,100 union and 300 salariec workers.
“Today starts a new era for General Motore and everyone associated with the Henderson said. “Going the new General Motors is fullg committed to listeningto customers, responding to consumer and markeyt trends, and empowering the peoplr closest to the customer to make the decisions. Our goal is to buil d more of the cars, trucks and crossovera that customers want, and to get them to markey faster thanever before.
” Scott Peltz, managing director at and chairman of its national corporate restructuring group, said “it remainws to be seen” whether GM can adequately focus on product and customers in light of possible Congressional interventionh in how the company does business. “There’sw already some talk by polititians to allow dealersa to reinstatetheir franchises,” Peltz said. GM has the expertise to he said. “They’ve jettisoned a lot of debt andlegacg costs,” Peltz said. “I don’gt think the answer’s clear yet (whether the company will effectively competre with otherauto manufacturers).
” Day to day, GM “needds to watch and avoid its which is a bloated manufacturing and distribution footprint, and the creepp of labor demands that left it and at the same time creatd leading-edge cars,” he said. The new GM will have four core Chevrolet, Cadillac, Buick and GMC. It will have 34 nameplates next downfrom 48. • : 60.8 percentf • : 17.5 percent • Canadian and Ontario 11.7 percent Henderson said GM intends to repayg its governmentloans “much sooner” than the 2015 due date. By the end of GM will operate34 assembly, powertrain and stampingb plants, down from 47 in 2008, and it expectzs its plants to reach capacity during 2011.
The new company has $11 billionb in U.S. debt, excluding an additionakl $9 billion in preferred stock. CEO Fritz Henderson said durinh a conference call that the companyh expects to go public sometimenext year. GM will cut an additiona l 35 percentof U.S. management employeea and 20 percent of salaried employeesby year’s end, Hendersobn said. He said he hadn’t calculated the number of affecteed employees. The company said in a release that it will cutoverallo U.S. employment to about 64,00o0 by year’s end, down 30 percent from abougt 91,000 currently. GM . The company’s in Kansads City, Kan., employs about 2,100 union and 300 salariec workers.
“Today starts a new era for General Motore and everyone associated with the Henderson said. “Going the new General Motors is fullg committed to listeningto customers, responding to consumer and markeyt trends, and empowering the peoplr closest to the customer to make the decisions. Our goal is to buil d more of the cars, trucks and crossovera that customers want, and to get them to markey faster thanever before.
” Scott Peltz, managing director at and chairman of its national corporate restructuring group, said “it remainws to be seen” whether GM can adequately focus on product and customers in light of possible Congressional interventionh in how the company does business. “There’sw already some talk by polititians to allow dealersa to reinstatetheir franchises,” Peltz said. GM has the expertise to he said. “They’ve jettisoned a lot of debt andlegacg costs,” Peltz said. “I don’gt think the answer’s clear yet (whether the company will effectively competre with otherauto manufacturers).
” Day to day, GM “needds to watch and avoid its which is a bloated manufacturing and distribution footprint, and the creepp of labor demands that left it and at the same time creatd leading-edge cars,” he said. The new GM will have four core Chevrolet, Cadillac, Buick and GMC. It will have 34 nameplates next downfrom 48. • : 60.8 percentf • : 17.5 percent • Canadian and Ontario 11.7 percent Henderson said GM intends to repayg its governmentloans “much sooner” than the 2015 due date. By the end of GM will operate34 assembly, powertrain and stampingb plants, down from 47 in 2008, and it expectzs its plants to reach capacity during 2011.
Friday, June 3, 2011
Dayton, Republicans agree to keep trying on budget - Forbes
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WJON News | Dayton, Republicans agree to keep trying on budget Forbes Mark Dayton in their dispute over taxes and spending. The two sides spent nearly 90 minutes together at the governor's St. Paul residence in their first private meeting since the Legislature adjourned last week without a budget deal. ... Dayton wants mediator help over budget with GOP GOP legislative leaders optimistic after 'roadmap' meeting with Dayton Dayton, GOP leaders will keep meeting on the budget |
Wednesday, June 1, 2011
Consider Celiac Disease in Autoimmune Disorder Patients - Internal Medicine News Digital Network
kapitonragomo.blogspot.com
Consider Celiac Disease in Autoimmune Disorder Patients Internal Medicine News Digital Network Consider screening for celiac disease in children with juvenile idiopathic arthritis, arthromyalgias, and myositis, advised Dr. Alexa B. Adams at the Congress of Clinical Rheumatology. Celiac disease has a strong association with numerous autoimmune ... |
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