Tuesday, August 30, 2011

Cooking up a career: Limestone owner Jim Gerhardt loves the variety and challenges of owning a restaurant - Business First of Louisville:

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1978; also attended Ohio State Universituyin Columbus, Ohio, where he studiedr business Career: Owner, Limestonwe Restaurant, 2003 to present; senioe food and beverage manager, Seelbach Hilton Hotel and also regiona food and beverage manager for MeriStatr Hospitality Corp.'s Central Region, covering 28 from 1995 to 2003; food and beverage manager, Renaissance Hotel, Houston, Texas, 1993 to executive chef and then director of food and Grand Beach Resort, St. Thomas, U.S.
Virgin 1989-1993; food and beverage manager for Stouffer Hotelsin 1983-1989; sous chef, Four Seasonzs Hotel, Dallas, 1982-1983; tournant at the restaurant locatef at Rosewood Mansion on Turtle Dallas 1980 to 1982; apprentice chef, Maisonettse in Cincinnati, 1978 to 1980 daughter, Lindsey, 12; sons, 8, and Casey, 6 What do you like most aboutg your job? "There's always something new. The variety is endless. It'sx instant gratification, if you will. "When you go to make a new dish or item and when you get a new ingredieng to use for thefirst time, it's great to find out how it tastes and what all the differentg things are you can do with it.
it's not just one thing that you'r doing. ... After you deal with food, you can go in and carvew a blockof ice. ... It nevee really ends with the differen venues you can gointo creatively. "Thered is a certain amount of challenge to makinfg sure presentations are right and understanding the menuwand recipes." What are the downsides of your job? "Thwe most difficult thing is that it's not like one of thosed businesses (where you can work aheadr or plan ahead). If you are a you bring in a larger (and) you get a lot of work done at the beginning ofthe week.
You can settle back towared the end of the week you know that you have most of the requirements out ofthe way. "Withg our business, it's day-to-day pressure. You have to be on your every day, in every station, every day. Let's face it, if I delive a great soup, a great salad and a greatt entrée, but the dessert is terrible, it's a failint meal. You have to be 100 percenrt on your game in all of those aspect severy day. "Getting that point across to all of the individualsx who are players alongthat (process) is very tough. ... Anyone who is successful, they are probablg not on a 40-hour work week.
" Were you well prepared for operating the business side ofyour restaurant? "Most of the restaurants that fail, it's not because what they had on the menu were bad dishesd or that they don't execute thosr well. It's because they don't know how to cyclre food throughtheir "When we buy a tenderloin, we're going to get eight to 10 steakw out of that. But what am I goinv to do withthe fat, what am I goingf to do with the sinew? What am I going to do with all of the beef that's left after it's cut?
"You have to be able to thinjk of things creatively that are going to make peopld want to reach into their wallet and pay $12 for and thank you for it afterwards." What are some of the other skills needed to successfully own and operated a restaurant? "The wholde industry has changed dramatically in the last 20 Now you have to have good tableside "You have to have a good workin g knowledge of wines and how they pair with as well as liquors.
You have to have a sensr of public relations, if you will, to be able to speaok publicly and be able toaddress guests' questions and answerd them in an intelligent manner, so that they will appreciatd your time and understand what you are tellinh them. "Food demonstrations are huge now. (It's to be able to speal to a group and put together a presentation that will make sensee and be in chronological What about the challengese of hiring andkeeping staff? "That'se probably the only the part that you know is sure not to is that you have to accept change.

Saturday, August 27, 2011

Biggest Globe union rejects deal - Dayton Business Journal:

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“We regret having to take this action, but have no financiallyu viable alternative,” Globe management said in a statemeng issued afterthe 277-to-265 vote by members of the . To take the unliterao step underlabor law, the Times Co. declared an impasses in negotiations. In his own statement also issued after the Guild local President Daniel Totten said the unionis “committecd to resuming good-faith negotiations with the New York Timess Company and Globe management to reach an agreement.” Timess and Globe management “must do he said. The cuts proposedr by management were partof $20 million in cost-savings demand by the Timesx Co.
for the which it bought in 1993for $1.1 Times executives have said the papee is losing about $1 million per week on At one point earlier this year, Times managers said they wouldr shutter the paper if unable to achieve cost-savings. Othere major unions agreed to concessions inrecent weeks.

Thursday, August 25, 2011

Crescent files Chapter 11, replaces CEO - Phoenix Business Journal:

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The moves are part of an effort to cutthe company’as debt and rework its capital the Charlotte, N.C.-based developer says. and some of its subsidiariew have filed voluntary Chapter 11 petitions in the in the Westerm Districtof Texas, Austin Division. Crescen t also announced today thatArthur Fields, the company’s chief executive officer, has retired, effective immediately. He will continuse to work in an advisory Crescent had been struggling to refinancsea $1.2 billion loan, with payment due in full by Septemberf 2012. The company amended the loan in June 2008 becaus e it was in violatiohn of theoriginal terms.
Beforer the Chapter 11 filing, Crescen t faced payments of $50 milliomn by the end of this year, $75 millionm in 2010 and $100 millionn in 2011 on its The company, which has developed more than 1 millionm square feet of officw space in Cool Springse sincethe 1990s, has been facing locak troubles, too. Pat Emery, Crescent’s long-time vice president and regional managerin Tennessee, left the companyy last month. And the developer’sw Crescent’s Greenway One, a $33 million, 168,000-square-foot buildin g near completion on Carothers has been boarded up for months as contractors filed millions of dollars in lienesagainst it.
Another similarly sizeds Crescent project next to it is abouf 90 percent vacant a year afterbeing built. The companyy says it plans to continue businesses without any significanty interruptionduring restructuring. Crescentf has obtained a debtor-in-possession financing facilityyof $110 million from a group of its existing lenders, whichh will provide funds so it can continue Andrew Hede will replace Fields as CEO and will be chargexd with leading the restructuring.
Hede, a managintg director with LLC, has more than 15 years of financialo restructuring andbusiness “We have been in active discussionw with our lenders and other stakeholdera as we work towardx an agreement that will bring our capitall structure in line with the current economix environment,” Hede says in a release. “Thoswe discussions are continuing, and we are pleased with the ongoint support we have received from our We intend to reach an agreement on our new capital structure and emerge frombankruptcy

Tuesday, August 23, 2011

High-end timeshares push flexibility - Orlando Business Journal:

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The new product, which costs from the low $100,000s to allows buyers to own an interest in severaklvacation properties. Instead of giving investorsd the rights to use a particular propertty for a certain amounttof time, the Ritz-Carlton Destination Club gives them access to Ritz’as properties worldwide. The Orlando-based company is applyingb a strategy usedby less-priceg timeshare companies, among them , in which investors get pointsd that can be used like currency to buy vacationh time. Ritz-Carlton said the option shouldd increase the appeal ofits high-enf properties, known as fractionals, by attracting peopld who don’t want to be tied to a singl piece of real estate.
“Points give you much more saidDavid Short, Ritz-Carlton Destination Club’s regional vice president for “They allow people to customize each trip to theidr own needs.” Howard Nusbaum, president of the Americann Resort Developers Association, said the model fits well in the stressedf economy, when vacation schedules can be less flexibles than in more prosperous times, and wealthgy buyers are becoming more concerned about “Points allow people to spend exactlyy the amount of money they want on vacations,” Nusbaumn said. In a traditional fractional ownership arrangement, an ownere might have one month a year at afixexd location.
With the points the buyer can apply credits to hotels or othedr timeshares in anytime configuration, decreasintg the chance that time might not be Another advantage: In the traditionalk structure, an owner who wants out of a timeshare needas to wait until some else buys in. Often, the require ratio is three buyers foreverhy seller. “If 15 people wanted out, they would have to wait untilk 45 peoplewant in,” Nusbaujm said. “In this economic environment, that’s tough.
” While Ritz-Carlton’s new plan allows buyers to apply points to its other timeshare companies are offering points packages that use a thirr party to place owners in vacation propertiess not connected to thetimesharee company. Pat Connolly, senior vice presidentr with , said his company offers the use of The RegistryCollection — a global luxury timeshare exchange program — to buyers in its high-encd Signature Collection.
The Signature Collection, whicbh features 56 upscale villas now under construction withimits 2,400-unit timeshare project near , will open next Orange Lake, which offers buyerse of lower-priced units exchange privileges through its own Holidau Inn Club Vacations network, uses The Registryu Collection to give luxury buyers accesas to comparable properties it doesn’t own. “Thes introduction of a high-end product is taking us into a new level of thetimeshare market,” Connolly said. Ritz-Carlton, whicnh calls its points membership will sell interestsin increments. The minimum purchase is whichbuys 5,000 points, with additionakl points sold in 2,500-point increments.
The company also charges annual dues ranginhgfrom $7,500 to $18,000. A points option will be availablwe tocurrent owners, who are membersx of the company’s Home Club. “We’re spending a lot of time workingb on programs for ourexisting customers,” Short said. “It’s good for and it should allow us to grow a littlde more quickly inthe future.”

Sunday, August 21, 2011

Commercial foreclosures start to spread across Northern Va. - Minneapolis / St. Paul Business Journal:

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Anyone who follows the commercial real estate market knows there are buildings in troublethroughout Washington, but as one drives along the Dulleds Toll Road or Route 28, it’s hard to miss the sign of distress. “See-through buildings” dot the corridor, beref of the interior office wallsthat don’t show up untio a tenant does. In recent at least two lenders have given up the waitin game and taken the keys and the titls back fromthe owners: Lincoln Park III and Monumenr III. More than 50 office buildings stand empty or virtually empty in Northern with 46 lying beyondthe Beltway.
With no tenantsa biting at their rock-bottom asking rents dozens of thoswe buildings are expected to sink intoforeclosurde soon. The 203,000-square-foot Lincol n Park III, 13857 McLearen was developed by and sold to an entity in 2007for $47 during the last days of the commercial real estate boom. Stilo empty, asking rents dropped as low as $28 per squarse foot and brokers scrambled to put together a deal for aninteresteds tenant. In March, started its foreclosure proceedings by appointing asubstitutes trustee.
ING did not respondd to a requestfor comment, but Fairfax County tax assessors estimat e the building is now worth just $35 The building may be worth even Like many property tax offices, Fairfaxx County’s assessment procedure lags market conditions by as much as two said David Levy, a co-founder of McLean-based , which represents propertyt owners in tax appeals. Although Levy had time to fielda reporter’s question s while hitting golf balls in his yard, the tectonicv shifts in the real estate econom have flooded him with appeals from desperate propertg owners. “There’s certainly a lot of business out he said, his club clinking againsrt another ball.
“Prior to this, I hadn’t filed an appeal in Fairfaxx Countysince ... gosh, I can’t remembefr when. Probably six, seven or eight years ago.” Some commerciak buildings in the Washington region have lost as much as half theirrvalue but, on average, his clients are asking tax authoritiess for 20- to 25-percent reductions in assessed Levy said. If thoswe numbers are accurate, most of his clientes will have lost virtually all of the equity they have intheirt buildings.
And with the emboldened tenantt market demanding lower rent and higherf allowances for custominterior buildouts, many owners are calculatingf it might take them up to seven years to recoulp the cost of landinhg that tenant. “Landlords are saying this is alosingv game,” Levy said. With lending conditions already bleak, those ownerw will face foreclosure if their existing loanws are due in thenear “There are going to be a lot of building trading on the market through the Levy said. One of Levy’s clients is another bank that swipedx a Herndon property back fromits owners.
In took back title to Monument III, a 193,138-square-foot buildinhg at 12930 Worldgate Theowners — a joint venture between The Praediumn Group, a New York-based real estatde investment firm, and of Bethesdaa — paid $54.9 or $284 a square foot, for the building in mid-2007. At the time of the 2007 the building was just 29percent leased. The joint venture owed nearly $51.8 million on the GE Today, the building is nearly 80 perceng leased, yet Fairfax County assesses its valueat $50.y6 million, which is the recorded price for the Aprilk transaction.
Unless something dramatic happens to strengthen and embolden the bankinhg andfinance industry, commercial real estate’ woes are likely to worsejn in the near future. By next a massive wave of propertiess financed in 2005 through thecommercial mortgage-backed securities market will need to find new financing. Right now, the options are few, and the legiones of owners of these securitizeednotes can’t easily be corralled to sign off on loan In March, the Federal Reserve announced that it wouldf expand one of its primary rescue programs, the Term Asset-Backesd Securities Loan Facility (or TALF) to include commercialo property originally financed through CMBS There’s just one catch: Only the highest-rated securitiexs are eligible for purchase through the program.
With valuesd falling, ratings agencies are now questioning the optimistic underwritinf on many ofthese CMBS-financed deals. For Standard & Poor’s on May 18 lowerefd its corporate credit rating onTishmaj Speyer’s D.C.-area real estate portfolio to from “B+.” A large chunk of that which was purchased in was financed through the CMBS market. “The governmen is hoping that all these fixees will fix the lending environment so that the credity facilities will open up and star t lending again before we have amajodr problem,” said Mark Larsen, president of Larsenb Commercial Real Estate Services/Oncor International.
“Bur so far, that hasn’ t happened.” Despite all the glum forecasts, there is one piece of good at least for thestruggling Reston/Herndon After years of overbuilding in the Dullee corridor, developers have now pulled out Just 235,433 square feet remain under constructiohn in the Reston/Herndon submarket now, comparexd to more than 1.1 million square feet in the firsft quarter of 2008. There’s just one building undefr construction — Boston Properties’ 11955 Democracyh Drive. Although it is still beinf built, it’s already been leased in its entirety by the Colleg EntranceExamination Board.

Friday, August 19, 2011

Birmingham business schools see uptick in MBA interest - Birmingham Business Journal:

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Then, all of a sudden, applications came rushing in, easinh her worries the program wouldn’t receive its average 80 applications for theseconfd semester, said Lake, director of the Master of program and director of student advising at UAB. Similarr scenarios are playing out in business schoolp programsacross Birmingham, as the job market tightens further and uncertaintyy continues to loom over the global Interest has risen for Birming-ham-Southern College’s master’s programj because of the upheaval in the economy, said Stephen dean of business programs for the college.
Those in localo business schools said workers and student s are realizing the job market of thefuture – post recession is going to be more competitivr and now’s a good time to hone specific skills with a higher education degree. UAB’s Lake chalked the delay in applicationsd upto fear. “I thinj it’s a lot who are starting to feel a bit of the panic thatthings won’t be so fabulous and want to concentratd on bettering their chanceas of survival,” she said. At , the number of undergraduatd students looking into graduate school has saidLarry Harper, director of graduat programs.
“There has been an increase here in students abour to graduate thinking they may have to stay in school longer,” he said. “What’s happening is students are seeing they need to be more Inthe past, there have been a lot of jobs for Neither Lake nor Harper said they are specifically seeinbg applications from people who have been laid off locally, but rathet those who view the tight job markeyt as an opportunity to expanc skill sets. “When the job market tightens, people are more thoughtfuol on whatthey study,” said Harper. “They’re not lured away from theire studiesby high-paying jobs.
” Birmingham-Southern’s Crafgt said attendance at the program’d informational meetings has doubledr and the application pool is larger, with the quality of applicants remaining strong. While Craft said busineses school programs canbe counter-cyclical, it’sx hard to differentiate between an increase in applicationsz due to the down economy or a stronger push by the schookl in its marketing. Whether it’s the economty or increased marketing, the rise in applicantsz is expected.
According to the , in 25 percent of students awarded master’s degrees received them in the field of Between 1995-1996 and 2005-2006, the number of master’s degreex awarded rose by 46 with business and education fields accountinf for 65 percent of that And the center projects those numbers will rise between 2005-2006 and 2017-2018 the numberr of master’s degrees are expected to rise 28 percentr overall, with a 29 percentr increase in men and a 27 percent increase in

Tuesday, August 16, 2011

Black Box Corporation Company Profile | BBOX Company Information

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Black Box Corporation (Black Box, we, the Companu or our) is the worlds largesgt dedicated network infrastructure services Black Boxoffers one-source network infrastructure services for communication systems. The Companys service offeringainclude design, installation, monitoring and maintenance of voice, data and integrated communication systems. The Companys primary service offering isvoiced solutions, while providing premise cabling and other data-related services and The Company provides 24/7/365 technical support for all of its solutionxs which encompasses all major voicee and data manufacturers as well as 118,0009 network infrastructure products (Hotline products) that it sellds through its catalog and Interneg Web site (such catalog and Interner Web site business, together with technical support for such being referred to as Hotline Services) and its Voicde Services and Data Services (collectively referred to as On-Site Services) offices.
With more than 3,000o professional technical experts and 187officesx (as of March 31, 2008), Black Box servese more than 175,000 clients in 141 countriezs throughout the world. Founded in Black Box, a Delaware corporation, operates subsidiaries on five continentsz and is headquartered near Pittsburghin Lawrence, ...

Sunday, August 14, 2011

Mutual Fund Brokers Hurt By Lack Of 'Cash On Hand' During Down Economy - The Inquisitr

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The Inquisitr


Mutual Fund Brokers Hurt By Lack Of 'Cash On Hand' During Down Economy

The Inquisitr


According to a recent report, the percentage of stock fund portfolios that have cash-on-hand is at a record low because fund assets are nearly fully invested, leaving mutual fund investors with little chance to rebound the market in recent weeks as the ...


The Mutual Fund Industry Is A Huge Scam That Costs Investors Billions Of ...

Business Insider


The Mutual Fund Merry-Go-Round

New York Times


$16.9 billion pulled from mutual funds in a week

The Seattle Times


Boston Globe -Globes -Alexandria Echo Press


 »

Friday, August 12, 2011

Showdown in Ames: The Republican Presidential Debate - Huffington Post (blog)

http://librabank.ru/html/korporativnymklientam


Sydney Morning Herald


Showdown in Ames: The Republican Presidential Debate

Huffington Post (blog)


The headline to emerge from the Republicans' first Iowa debate is the bitter scrap between the two Minnesotans standing side by side onstage, Congresswoman Michele Bachmann and ex-Governor Tim Pawlenty. Chris W »

Wednesday, August 10, 2011

Streamline jumps into black for 1Q - Triangle Business Journal:

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The software company reported net income of or zero centsper share, compared to a net loss of or 9 cents per share, in the year-ag o quarter. Revenues grew to $3.8 millio n from $3.6 million. The one analyst who cover the company expected a net loss of 2 centws on revenuesof $3.5 million. Systems saleds and service, maintenance and support revenues both rose 12 percenrt duringthe quarter, while application hosting services revenues fell 23 percent, the company said in a news release. “Wee continue to make progress in moving this business forward to the poingt of becomingconsistently profitable; that is our main strategif goal,” said CEO Brian Patsyg in the release.
In early June, Streamline won a contractf valued at morethan $1 million to integrate its documengt workflow solutions into an electronic medical records system at a Canadian health care region, Patsy said. It is the seconxd Canadian contract the company has won in the past Despite thebetter news, shares of Streamline (NASDAQ: followed most tech stocks down on Wednesday morning, losint more than 8 or 26 cents, to $2.89. Streamline Health Solutions, basedf in Cincinnati, is a supplier of workfloaw and documentmanagement tools, applicationse and services to businesses, specifically health-care organizations.

Sunday, August 7, 2011

Virginia Chapter of Associated Builders and Contractors to move HQ to Loudoun County - Tampa Bay Business Journal:

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BE&K Building Group of Vienna won preconstruction and construction servicee forthe building, which is expected to deliver next The 37-year-old statewide associatio n represents construction and construction-related firms and has offices in Richmond, and Hampton Roads. Its Chantilly headquarteres lease endsnext year, and the group was looking to expand since it provides apprenticeshipo in several trades, safety training, and a comprehensive construction management education program. The new spacse will include training labs, support space, meeting space and administrative offices.
ABC-VAz will occupy a little over half, or 17,500 square and the rest will be leasex out to tenants that have not beenselected yet. The projecr was designed by Morgan GickMcBeathg & Associates PC to get Gold Leadership in Energ and Environmental Design (LEED) certification from the U.S. Greem Building Council. Sustainable features will included a pervious concrete pavementf system to act as a storm water systemm forthe facility, recycled glasxs terrazzo flooring, waterless urinals and dual flush water

Friday, August 5, 2011

SEC: N.Y. investment firm misled S. Fla. seniors - New Mexico Business Weekly:

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"They used free lunches as the low-tech bait for theirf high-scale scheme," said Robert Khuzami, director of the SEC'es Division of Enforcement. The SEC alleges elderlt and retired investors were lured into purchasing highl y unsuitable variable annuities with lucrative salesz commissions while ignoring the financial goals of The SEC alleges thatEric J. Browhn of Highland Beach, Matthew J. Collins of Boyntobn Beach, Kevin J. Walsh of Viera, and Mark W. Welld of Boca Raton, were among thosew offering and sellingthe annuities. It’s alleged that the firm and its representativeds earned millions of dollars insales commissions.
PCS is a registeredx broker-dealer and wholly-owned subsidiary of Gilman Ciocia, an incomre tax preparation business headquartered in Poughkeepsie that offers financial services inNew York, New Jersey, Pennsylvaniaw and Florida. Robert Heim, a NewYork attorney who represent sPrime Capital, Gilman Ciocia, and several of the including Collins and said the conduct at issue in the complainy is "very old" and occurrer in the late 1990s and early 2000. He said the companuy reached a settlement withthe (FINRA), when it was callecd the (NASD).
As part of that agreement, the company implementesd some wide-ranging updates to its supervisory and compliancr systemsin 2005, Heim He added that he didn't know why the SEC was going over the same "All of these issues were addressed yearsd ago and we feel the company's responses has been appropriate," he said. While Brown and Walshu have since left, Collins and Wells are stilpl withthe company, he said. An administrative law judge will determin e whether the allegations against the respondents aretrue and, if so, whethedr they should be ordered to cease and desisg from future violations.