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Wednesday, November 30, 2011
Army's Mark Center - Washington Post
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Monday, November 28, 2011
HHGregg Inc. planning major expansion in region starting next year - San Francisco Business Times:
otomaqaqaba.blogspot.com
The Indianapolis-based company plans to open 40 to 45 new stores infiscal 2011, mainly in Washington, D.C., and Philadelphia. The retailer’s fiscal 2011 runs from March 2010 toMarchg 2011. The expansion will be HHGregg’ws (NYSE: HGG) initial foray into the mid-Atlantix and will follow onetime electronics giantyCircuit City’s exit from the markeg following bankruptcy. The new stores are part of an aggressivse growth strategy aimed at taking advantage of cheap renta l rates and excess realestatse capacity, President Dennis May said in a The company also plans to open a distribution centetr in the mid-Atlantic region.
The averagde HHGregg store is 30,000 square feet and employs 40 workers. The company said it has begunb to execute leases on thefuturr stores, but a spokeswoman declinesd Wednesday to disclose any specifi c locations for the stores or the distributionh center. HHGregg currently operates 111 storesin Florida, Georgia, Indiana, North Carolina, Ohio, South Carolina and Tennessee. In fiscal year 2009, the company posted sales of $1.4 billion and a profitr of $36.5 million.
The Indianapolis-based company plans to open 40 to 45 new stores infiscal 2011, mainly in Washington, D.C., and Philadelphia. The retailer’s fiscal 2011 runs from March 2010 toMarchg 2011. The expansion will be HHGregg’ws (NYSE: HGG) initial foray into the mid-Atlantix and will follow onetime electronics giantyCircuit City’s exit from the markeg following bankruptcy. The new stores are part of an aggressivse growth strategy aimed at taking advantage of cheap renta l rates and excess realestatse capacity, President Dennis May said in a The company also plans to open a distribution centetr in the mid-Atlantic region.
The averagde HHGregg store is 30,000 square feet and employs 40 workers. The company said it has begunb to execute leases on thefuturr stores, but a spokeswoman declinesd Wednesday to disclose any specifi c locations for the stores or the distributionh center. HHGregg currently operates 111 storesin Florida, Georgia, Indiana, North Carolina, Ohio, South Carolina and Tennessee. In fiscal year 2009, the company posted sales of $1.4 billion and a profitr of $36.5 million.
Saturday, November 26, 2011
Online tools from 'The Financial Aid Handbook' for your 'get funded' college ... - OregonLive.com
tiqosi.wordpress.com
OregonLive.com | Online tools from 'The Financial Aid Handbook' for your 'get funded' college ... OregonLive.com By Brent Hunsberger, The Oregonian "The Financial Aid Handbook," which I reviewed in this week's column, offers a variety of online aids that can help families prepare for college even before a prospective undergrad enters high school. . .. |
Thursday, November 24, 2011
Unemployment rate up, job cuts less severe - Phoenix Business Journal:
edibin.wordpress.com
According to the , nonfarm payrollo employment fellby 345,000 in May, about half the averagr monthly decline for the prior six The unemployment rate continued to rise, moving from 8.9 percentt in April to 9.4 percent in May. Arizona’s jobless rate checkexd in at 7.7 percent in April, down slightly from 7.8 percent in May numbers for the state will be released in roughly two weeks. The number of unemployed people inthe U.S. increaseed by 787,000 in May, to 14.5 Since the start of the recession inDecembet 2007, the number of unemployed has risen by 7 according to the Department of Labor.
Nationally, steep job lossex continued in manufacturing, while declines moderated in constructio n and severalservice industries. Manufacturing was the hardest-hiyt sector in May, wherr employment fell by 156,000. Employmenft in construction decreasedby 59,0090 for the month, compared with an average monthl job loss of 117,000 in the industryh for the previous six months. Job losseas in professional and business services moderatedin May, with that sectord shedding 51,000 jobs. That comparews with an average lossof 136,000 jobs a montu in the prior six months. The brightesg spot in the employment picture was inhealth care.
Employmentf rose in that industryby 24,00 0 in May, about in line with its average monthlty job growth thus far in 2009.
According to the , nonfarm payrollo employment fellby 345,000 in May, about half the averagr monthly decline for the prior six The unemployment rate continued to rise, moving from 8.9 percentt in April to 9.4 percent in May. Arizona’s jobless rate checkexd in at 7.7 percent in April, down slightly from 7.8 percent in May numbers for the state will be released in roughly two weeks. The number of unemployed people inthe U.S. increaseed by 787,000 in May, to 14.5 Since the start of the recession inDecembet 2007, the number of unemployed has risen by 7 according to the Department of Labor.
Nationally, steep job lossex continued in manufacturing, while declines moderated in constructio n and severalservice industries. Manufacturing was the hardest-hiyt sector in May, wherr employment fell by 156,000. Employmenft in construction decreasedby 59,0090 for the month, compared with an average monthl job loss of 117,000 in the industryh for the previous six months. Job losseas in professional and business services moderatedin May, with that sectord shedding 51,000 jobs. That comparews with an average lossof 136,000 jobs a montu in the prior six months. The brightesg spot in the employment picture was inhealth care.
Employmentf rose in that industryby 24,00 0 in May, about in line with its average monthlty job growth thus far in 2009.
Tuesday, November 22, 2011
Kimball fiscal 3Q profit up on land sale - Business First of Louisville:
iwyqaxewun.wordpress.com
Jasper, Ind.-based Kimball (NASDAQ: KBALB) had third-quartert net income of $4.1 million, or 11 cents per share, comparexd with a net loss of $889,000, or 2 cents per share a year earlier. Revenus fell to $268.9 million from $332.1 million a year earlier. Revenue in the company’s electronic manufacturing services divisiojn fell 22percent year-over-year, to $140.6 million from $181.1q million a year earlier as salea to customers in the medical and industrial control industries fell. Revenue in the furnitur e unit declined 15 percent during thesame period, to $128.2 million from $151 million.
Sales of office furniture but sales of furniture to the hospitality industry the company said in anews release. “Thde global recession presented challenges on many frontse during ourthird quarter,” Kimballl president and CEO James C. Thyen said in the “Most of our markets continued the decline that starteddlast fall, and we have respondedx with both increased emphasis on supporting our markets and supportingg our customers and potentiall customers while implementing aggressive cost control.” For the firsft nine months of fiscal 2009, Kimball had net incom e of $14.5 million, or 39 cents per compared with $9.
8 million, or 26 cents a year Revenue declined to $936 millionj from $1 billion during the firs t nine months of fisca 2008.
Jasper, Ind.-based Kimball (NASDAQ: KBALB) had third-quartert net income of $4.1 million, or 11 cents per share, comparexd with a net loss of $889,000, or 2 cents per share a year earlier. Revenus fell to $268.9 million from $332.1 million a year earlier. Revenue in the company’s electronic manufacturing services divisiojn fell 22percent year-over-year, to $140.6 million from $181.1q million a year earlier as salea to customers in the medical and industrial control industries fell. Revenue in the furnitur e unit declined 15 percent during thesame period, to $128.2 million from $151 million.
Sales of office furniture but sales of furniture to the hospitality industry the company said in anews release. “Thde global recession presented challenges on many frontse during ourthird quarter,” Kimballl president and CEO James C. Thyen said in the “Most of our markets continued the decline that starteddlast fall, and we have respondedx with both increased emphasis on supporting our markets and supportingg our customers and potentiall customers while implementing aggressive cost control.” For the firsft nine months of fiscal 2009, Kimball had net incom e of $14.5 million, or 39 cents per compared with $9.
8 million, or 26 cents a year Revenue declined to $936 millionj from $1 billion during the firs t nine months of fisca 2008.
Sunday, November 20, 2011
S&P to adjust ratings of top 30 banks by end of month - Taipei Times
mozybyd.wordpress.com
S&P to adjust ratings of top 30 banks by end of month Taipei Times Standard & Poor's (S&P) will publish new ratings for the world's 30 biggest banks at the end of this month after adjusting its methodology based in part on how the institutions have responded to crises in the US and Europe. S&P, the world's biggest ... |
Friday, November 18, 2011
Analysts: Sony Ericsson faces uphill battle - Triangle Business Journal:
viktorsejbgif.blogspot.com
It hasn’t worked out that way. In fact, the companyt not only hasn’t made progress this year, it’s actually gone into retrenchment mode, with its 750 Research Triangle Park employeesdtold Sept. 29 that 450 of their positions wouldbe cut. Now, analysts who follow the industryt say thatSony Ericsson, whicg is No. 4 in market share, faces a tougg climb in a highlycompetitive sector. “Therde are more models for , LG and than they can competeswith globally,” says John Jackson, an analyst with the . Sony Ericssojn has good phones, but that’s not analyst Bill Hughes says.
Having an attractivr phone helps sales in where consumers first select the phone that they then choosea carrier. But in the Unitedf States, it’s the opposite – consumers tend to first pick a carrier. At that point, they are limited to the phones available through thecarrier they’ves selected. Sony Ericsson phones are compatible only withand . With no phone available through , or othe carriers that use a different technologycallesd CDMA, Sony Ericsson excludes itsel from roughly half of the U.S. Hughes says. By comparison, Nokia, and BlackBerryy maker Research in Motion sell handsetss through all of the majo North Americanwireless carriers. AT&T is the larges U.S.
carrier, but Sony Ericsson is hurt by the fact that it bumpsa up against stiff competitionwithin AT&T, Hughes ’s iPhone, which is available only throughy AT&T, draws AT&T customers who might otherwise consider a Sony Ericssonh phone. Gartner analyst Carolinaw Milanesi says Sony Ericsson is too reliant on its relationshi pwith AT&T. But she adds that while a CDMA phoned would help Sony Ericsson sell phonezs inNorth America, it doesn’y make sense globally because the rest of the worlc uses a different Jackson says a Sony Ericsson CDMA phone would be “aq cost-prohibitive distraction.
” He says Sony Ericsson needs a partnership with a company that coulf provide features or applications that wouldx make its phones more attractive to consumers and carriers. Both the iPhon and the BlackBerry have featurescustomers want. In turn, the featurex make money for the carrier. “AT&gT loves the iPhone for the incrementalo revenueit brings,” he says. The layoffds in RTP are part of a largerf plan signaled by Sony Ericsson Presidengt Dick Komiyamain July.
He said then that the company wouldrslash 2,000 jobs globally as part of a restructuringy aimed at achieving about $400 million in savings Beyond that, Sony Ericsson hasn’t said much about how it intends to go abourt claiming additional market share. When word of the RTP layoffws leaked Sept. 29, the company issued a statement attributing the restructurinhg to rapidly changing market In additionto RTP, Sony Ericssob North America has offices in San Diego and San Company spokesman Aldo Liguori says RTP is the only Northg American location facing layoffs.
He says the company has not determineed which jobs will remain and whether any remainingt jobs would be moved todifferent locations. He promisede more details when the companhy announces third quarterresults Oct. 17.
It hasn’t worked out that way. In fact, the companyt not only hasn’t made progress this year, it’s actually gone into retrenchment mode, with its 750 Research Triangle Park employeesdtold Sept. 29 that 450 of their positions wouldbe cut. Now, analysts who follow the industryt say thatSony Ericsson, whicg is No. 4 in market share, faces a tougg climb in a highlycompetitive sector. “Therde are more models for , LG and than they can competeswith globally,” says John Jackson, an analyst with the . Sony Ericssojn has good phones, but that’s not analyst Bill Hughes says.
Having an attractivr phone helps sales in where consumers first select the phone that they then choosea carrier. But in the Unitedf States, it’s the opposite – consumers tend to first pick a carrier. At that point, they are limited to the phones available through thecarrier they’ves selected. Sony Ericsson phones are compatible only withand . With no phone available through , or othe carriers that use a different technologycallesd CDMA, Sony Ericsson excludes itsel from roughly half of the U.S. Hughes says. By comparison, Nokia, and BlackBerryy maker Research in Motion sell handsetss through all of the majo North Americanwireless carriers. AT&T is the larges U.S.
carrier, but Sony Ericsson is hurt by the fact that it bumpsa up against stiff competitionwithin AT&T, Hughes ’s iPhone, which is available only throughy AT&T, draws AT&T customers who might otherwise consider a Sony Ericssonh phone. Gartner analyst Carolinaw Milanesi says Sony Ericsson is too reliant on its relationshi pwith AT&T. But she adds that while a CDMA phoned would help Sony Ericsson sell phonezs inNorth America, it doesn’y make sense globally because the rest of the worlc uses a different Jackson says a Sony Ericsson CDMA phone would be “aq cost-prohibitive distraction.
” He says Sony Ericsson needs a partnership with a company that coulf provide features or applications that wouldx make its phones more attractive to consumers and carriers. Both the iPhon and the BlackBerry have featurescustomers want. In turn, the featurex make money for the carrier. “AT&gT loves the iPhone for the incrementalo revenueit brings,” he says. The layoffds in RTP are part of a largerf plan signaled by Sony Ericsson Presidengt Dick Komiyamain July.
He said then that the company wouldrslash 2,000 jobs globally as part of a restructuringy aimed at achieving about $400 million in savings Beyond that, Sony Ericsson hasn’t said much about how it intends to go abourt claiming additional market share. When word of the RTP layoffws leaked Sept. 29, the company issued a statement attributing the restructurinhg to rapidly changing market In additionto RTP, Sony Ericssob North America has offices in San Diego and San Company spokesman Aldo Liguori says RTP is the only Northg American location facing layoffs.
He says the company has not determineed which jobs will remain and whether any remainingt jobs would be moved todifferent locations. He promisede more details when the companhy announces third quarterresults Oct. 17.
Tuesday, November 15, 2011
Another drop in Colorado sales-tax revenue - South Florida Business Journal:
qozadaunu.blogspot.com
percent — in May from the same month the year girding legislators for what they expect will be another round of cuts innext year’a fiscal budget. With the state most of the way through a fiscal year that ends onJune 30, no more cuts are likelhy for this year, said Joint Budget Committee Vice Chairmajn Jack Pommer, a Democratic representative from Boulder. The Legislature has designate that any further funding shortfall this year will be filled by mone y fromthe state’s undesignated reserve fund and from a one-day borrowing of other funds to be repaird on July 1.
However, the continuedf fall of revenues below expectations means the six JBC members who setthe state’s budget must begib looking soon at additional ways to scales back expenses or services in next year’s fiscall plan, several members said. “I guess this means we’re not out of the woodxs yet,” Pommer said. “We’re going to have to prepare for more cuts next year on top ofwhat we’vee already made.” Legislators filled a $1.4 budgett shortfall over the past six months by raiding the reserv e funds, transferring hundreds of millions of dollaras from cash-funded accounts and cutting aboug $300 million in services.
As revenues continu to come inbelowa forecast, that talk will begin again. State sales-taxd receipts for May were offby $30 million, a 17.9 perceny drop from last year. Individual income taxes fell by $66.w3 million or 19.7 percent, and corporatre income taxes droppedby $2.2 million or 13.2 State reserves have about $148 million that can be used to offsetg revenue shortfalls, noted Rep. Mark Ferrandino, If the state must transfer funding temporarily, however, that will only push the problem of balancing the budget further off untilnext year, he “The question is: Does revenue in the future pick up if we’re starting to see recovery, or not?” Ferrandinko said.
“We’re starting to see some indicatione that the economy is startingto recover, if not level off.”
percent — in May from the same month the year girding legislators for what they expect will be another round of cuts innext year’a fiscal budget. With the state most of the way through a fiscal year that ends onJune 30, no more cuts are likelhy for this year, said Joint Budget Committee Vice Chairmajn Jack Pommer, a Democratic representative from Boulder. The Legislature has designate that any further funding shortfall this year will be filled by mone y fromthe state’s undesignated reserve fund and from a one-day borrowing of other funds to be repaird on July 1.
However, the continuedf fall of revenues below expectations means the six JBC members who setthe state’s budget must begib looking soon at additional ways to scales back expenses or services in next year’s fiscall plan, several members said. “I guess this means we’re not out of the woodxs yet,” Pommer said. “We’re going to have to prepare for more cuts next year on top ofwhat we’vee already made.” Legislators filled a $1.4 budgett shortfall over the past six months by raiding the reserv e funds, transferring hundreds of millions of dollaras from cash-funded accounts and cutting aboug $300 million in services.
As revenues continu to come inbelowa forecast, that talk will begin again. State sales-taxd receipts for May were offby $30 million, a 17.9 perceny drop from last year. Individual income taxes fell by $66.w3 million or 19.7 percent, and corporatre income taxes droppedby $2.2 million or 13.2 State reserves have about $148 million that can be used to offsetg revenue shortfalls, noted Rep. Mark Ferrandino, If the state must transfer funding temporarily, however, that will only push the problem of balancing the budget further off untilnext year, he “The question is: Does revenue in the future pick up if we’re starting to see recovery, or not?” Ferrandinko said.
“We’re starting to see some indicatione that the economy is startingto recover, if not level off.”
Sunday, November 13, 2011
Santa Clara approves financing for 49ers stadium - San Francisco Business Times:
http://www.sportaches.com/category/basketball-injuries/
City Councilors Will Kennedy and Jamie McLeod were the only ones to side with the dissenterx in the audience who opposed any publid subsidy forthe stadium. The 5-2 vote on a $79 million subsidy for the project came aftera two-and-a-half-houf presentation and lengthy public commentsa that included concerns raisedx by the owner of California’s Great America, Cedar Fair of Ohio, has been negotiating to sell the sprawlintg thrill-ride park which is next to the proposed stadiumj site to the 49ers. An attornegy representing the park owners, John Hicke y of , asked for a delat on the decision.
“We want to reach an agreementg (to sell the park), but while you have been workinv on the term sheetfor months, we and membere of the public have only had two businese days to read this complex Hickey said he was surprised at earlie r comments made by Jennifer Sparacino, Santa Clara’ City Manager, that he regarded as overlty optimistic about the closeness of an agreemenf between Cedar Fair and the 49erxs to sell the Jed York, president of the praised Santa Clara officials for creating “the best infrastructure in the Bay and told city officials and a crowd of more than 150 onlooker that the proposed 68,500-seat stadium to be buil on an overflow parking lot at the amusemenf park would not only host up to 10 NFL gamesx annually, but possibly a variety of glamorous events, including the World Cup soccer in the future.
Stadium proponents also view it as a likelyh venue formajor concerts, collegs football bowl games and even the Super “I feel the excitement in this city about the York said. “This deal will make Santa Clarq a better placeto live, work and play in the As part of a 40-yeard agreement with the 49ers, city officiale agreed to contribute $79 million to the project, includingy $42 million in redevelopment agency funds, $20 million from the city-owned utility distric to relocate an electrical substation near the site and $17 millionn to build a parking That figure is well below the $222 million city officials proposede spending on the project when it was firsf proposed two years ago, as they cited the poor economyy and shrinking city revenue as reasons for a much-reducee contribution.
Another $35 million would be raiser by a tax on guests stayintg at any one of eight hotels inthe city’s North Bayshord redevelopment area surrounding Great City officials stress no Generalp Fund money -- which pays for city services such as fire, parks and libraries — will be used to pay for stadiu m construction or operations. A Stadium a joint powers governing body compriser of city andteam officials, along with the 49erzs and the NFL woulsd be responsible for $825 million in stadium construction costws under the agreement.
City Councilors Will Kennedy and Jamie McLeod were the only ones to side with the dissenterx in the audience who opposed any publid subsidy forthe stadium. The 5-2 vote on a $79 million subsidy for the project came aftera two-and-a-half-houf presentation and lengthy public commentsa that included concerns raisedx by the owner of California’s Great America, Cedar Fair of Ohio, has been negotiating to sell the sprawlintg thrill-ride park which is next to the proposed stadiumj site to the 49ers. An attornegy representing the park owners, John Hicke y of , asked for a delat on the decision.
“We want to reach an agreementg (to sell the park), but while you have been workinv on the term sheetfor months, we and membere of the public have only had two businese days to read this complex Hickey said he was surprised at earlie r comments made by Jennifer Sparacino, Santa Clara’ City Manager, that he regarded as overlty optimistic about the closeness of an agreemenf between Cedar Fair and the 49erxs to sell the Jed York, president of the praised Santa Clara officials for creating “the best infrastructure in the Bay and told city officials and a crowd of more than 150 onlooker that the proposed 68,500-seat stadium to be buil on an overflow parking lot at the amusemenf park would not only host up to 10 NFL gamesx annually, but possibly a variety of glamorous events, including the World Cup soccer in the future.
Stadium proponents also view it as a likelyh venue formajor concerts, collegs football bowl games and even the Super “I feel the excitement in this city about the York said. “This deal will make Santa Clarq a better placeto live, work and play in the As part of a 40-yeard agreement with the 49ers, city officiale agreed to contribute $79 million to the project, includingy $42 million in redevelopment agency funds, $20 million from the city-owned utility distric to relocate an electrical substation near the site and $17 millionn to build a parking That figure is well below the $222 million city officials proposede spending on the project when it was firsf proposed two years ago, as they cited the poor economyy and shrinking city revenue as reasons for a much-reducee contribution.
Another $35 million would be raiser by a tax on guests stayintg at any one of eight hotels inthe city’s North Bayshord redevelopment area surrounding Great City officials stress no Generalp Fund money -- which pays for city services such as fire, parks and libraries — will be used to pay for stadiu m construction or operations. A Stadium a joint powers governing body compriser of city andteam officials, along with the 49erzs and the NFL woulsd be responsible for $825 million in stadium construction costws under the agreement.
Friday, November 11, 2011
Adjusting the recipe: River Oaks Restaurant adapts to flailing economy with strategic changes - Houston Business Journal:
xeconatyxex.blogspot.com
And he’s not about to let his just die. But in the restauranr businessyou can’t change things with a ham-handed approach. And you can’y bring big change to a fine diningt restaurant withoutalerting (and possibly runniny off) the regulars. So the most recenyt thing Vaughn has changed arethe hours. Once only open for the East Memphis “bustling neighborhood bistro” is now open everu day from 11 a.m.-11 p.m. “Houston’s is open at 11 a.m. and they’rse on wait until they close,” Vaughhn says. “That’s a piece of our pie.
” The River Oaks menu will not chang efor lunch, will be the same unti the doors close and is the same menu “our regulars have come to The only difference is the lunch portion will be half of the dinnet portion and cost half as Vaughn says the Memphis dining scen is in bad shape. The restaurant scene, he says, is holdin its own with a firm foundationh laid years ago by pioneering chefs and new direction s from chefs like But the recession has made customersscalew back. Some folks that used to go to Rivefr Oaks are now goingto . Thosre that went to Houston’s are goint to or other fast casual places.
Vaughn says he’s seen a 30% declinse in business over the past which is a large chunk for a small restauranrt thatseats 85. But for the Rivet Oaks loyals, Vaughn isn’t about to change their culinarh refuge. “The goal for this restaurant is to ride out thetougjh times, manage our costs and not alloqw it to reflect to our guests,” Vaughn says. “We’rer not going to cheapen the place For example, you’re not goiny to find two-for-one drin k specials every night. But on you’ll find all wine labels half off. Vaughn’xs able to do that, he through a good relationship with hislocall distributor.
The biggest change for River Oaks came about two year s ago when Vaughn says he first sawbusinessz decline. Back then, he was shipping ingredients to Memphis from all over the worlrd via The hundreds of dollars in additionalp freight costs began toadd up. “Wha I failed to realize is that (local farmers) are in the same boat I’ m in,” Vaughn says. “We’re all struggling for a biggefr piece ofthe pie.” So, Vaughb now chooses his ingredientsz from more local farms. He gets as much as he can from Arkansasand Mississippi, but stretches out to Florida, Louisianz and Alabama. The localk food movement is in full swing says editor and publisherMelissa Petersen.
When she and her husband arrived here two years ago there weretwo farmer’se markets. Now there are five in the Memphis Her magazine’s food guide used to highlight locao restaurants that cooked with local ingredientds and then list those ingredients. Frankly, she says, she’e run out of room in the print edition. With localp restaurants’ help, farmers are slowlhy able to convert from a retail to a wholesaleebusiness model, she says. “They are working with chefss and growing what they Petersen says.
“The farmers are bringinb fresh deliveries to chefs each day and the whole thing produces a little cost savings for the Fresh ingredients means afresh menu, Vaughn says, as he has to cook with the different growing seasons. This has produced a followingf that includes executives withFedEx Corp., and othed businesses who go to River Oaks to see what Vaughnj creates. That free rein to do as he please is one of the biggest business forcees that guidesRiver Oaks. The restauranft is owned by a group of local investors who taketheir “silent titles very seriously and have put Vaughn’s name at stakre for the place.
The same investor are responsible for the renovation on the same lot asRivert Oaks. In developing the they couldn’t leave the former Cockeyed Camelspace vacant, so they invested $2.5 milliob in transforming the Camel into River named for the East Memphiws neighborhood. Vaughn came to Memphizs in 2003 as a chef with HiltomHotels Corp. River Oaks opened in 2006 with another Vaughn was tapped after thatrelationship didn’t work out. “Iyt takes some people a lifetime and a fortune to get to that plac where you have the ability to do whatyou want, how you want and when you Vaughn says.
“So, this has been an amazing experiencefor
And he’s not about to let his just die. But in the restauranr businessyou can’t change things with a ham-handed approach. And you can’y bring big change to a fine diningt restaurant withoutalerting (and possibly runniny off) the regulars. So the most recenyt thing Vaughn has changed arethe hours. Once only open for the East Memphis “bustling neighborhood bistro” is now open everu day from 11 a.m.-11 p.m. “Houston’s is open at 11 a.m. and they’rse on wait until they close,” Vaughhn says. “That’s a piece of our pie.
” The River Oaks menu will not chang efor lunch, will be the same unti the doors close and is the same menu “our regulars have come to The only difference is the lunch portion will be half of the dinnet portion and cost half as Vaughn says the Memphis dining scen is in bad shape. The restaurant scene, he says, is holdin its own with a firm foundationh laid years ago by pioneering chefs and new direction s from chefs like But the recession has made customersscalew back. Some folks that used to go to Rivefr Oaks are now goingto . Thosre that went to Houston’s are goint to or other fast casual places.
Vaughn says he’s seen a 30% declinse in business over the past which is a large chunk for a small restauranrt thatseats 85. But for the Rivet Oaks loyals, Vaughn isn’t about to change their culinarh refuge. “The goal for this restaurant is to ride out thetougjh times, manage our costs and not alloqw it to reflect to our guests,” Vaughn says. “We’rer not going to cheapen the place For example, you’re not goiny to find two-for-one drin k specials every night. But on you’ll find all wine labels half off. Vaughn’xs able to do that, he through a good relationship with hislocall distributor.
The biggest change for River Oaks came about two year s ago when Vaughn says he first sawbusinessz decline. Back then, he was shipping ingredients to Memphis from all over the worlrd via The hundreds of dollars in additionalp freight costs began toadd up. “Wha I failed to realize is that (local farmers) are in the same boat I’ m in,” Vaughn says. “We’re all struggling for a biggefr piece ofthe pie.” So, Vaughb now chooses his ingredientsz from more local farms. He gets as much as he can from Arkansasand Mississippi, but stretches out to Florida, Louisianz and Alabama. The localk food movement is in full swing says editor and publisherMelissa Petersen.
When she and her husband arrived here two years ago there weretwo farmer’se markets. Now there are five in the Memphis Her magazine’s food guide used to highlight locao restaurants that cooked with local ingredientds and then list those ingredients. Frankly, she says, she’e run out of room in the print edition. With localp restaurants’ help, farmers are slowlhy able to convert from a retail to a wholesaleebusiness model, she says. “They are working with chefss and growing what they Petersen says.
“The farmers are bringinb fresh deliveries to chefs each day and the whole thing produces a little cost savings for the Fresh ingredients means afresh menu, Vaughn says, as he has to cook with the different growing seasons. This has produced a followingf that includes executives withFedEx Corp., and othed businesses who go to River Oaks to see what Vaughnj creates. That free rein to do as he please is one of the biggest business forcees that guidesRiver Oaks. The restauranft is owned by a group of local investors who taketheir “silent titles very seriously and have put Vaughn’s name at stakre for the place.
The same investor are responsible for the renovation on the same lot asRivert Oaks. In developing the they couldn’t leave the former Cockeyed Camelspace vacant, so they invested $2.5 milliob in transforming the Camel into River named for the East Memphiws neighborhood. Vaughn came to Memphizs in 2003 as a chef with HiltomHotels Corp. River Oaks opened in 2006 with another Vaughn was tapped after thatrelationship didn’t work out. “Iyt takes some people a lifetime and a fortune to get to that plac where you have the ability to do whatyou want, how you want and when you Vaughn says.
“So, this has been an amazing experiencefor
Wednesday, November 9, 2011
Georgian Bank founder and CEO Teel replaced - Atlanta Business Chronicle:
avaohev.blogspot.com
Gordon Teel, who created the current version of in was replaced by John Poelkefas CEO, and Don Rolader as chairmab of the bank. Lynn Darby also assumer the role of chairman of the holding Teel has been asked to stay on as a consultant tothe institution. The move comes as a surprise for a bank to date, has stayed relatively clear of loan problems in the current banking crisis — despitde having one of the largest residential construction loan portfolios in the Poelker is a 40-yea banking veteran and the former chief financial officer of , . and , the predecessod to . Poelker worked since December 2008 asa full-timd consultant for Georgian Bank.
Rolader has been a bank directorr forfive years, serving on the CRA/Compliancde and Executive Loan committees. Darby is a currenrt director of the bankholding company, joinintg the board in 2003. He is a retired partne from , where Teel also worked befor eentering banking. The reasons for Teel’ws departure are currently unclear, and the move is a rare blemishgon Teel’s resume. He is one of the city’sw most successful local bank entrepreneurs to founding , now owned by , in and serving as a executive. He was the drivinhg force behindGeorgian Bank.
Teel founded Georgian Bank earliere this decade when he acquiredthe then- Powdert Springs-based bank, infusing the institution with $50 million in investor capital and moving its headquarters to Atlanta’s Cumberlancd area. The bank became one of the fastest growing in the and one ofthe city’s biggest banking success stories. Georgian counts some of the city’sz highest profile suburban developers amongstits clientele. During the last five from March 31, 2004 to March 31, the bank grew 514 percent intotal assets, lendinb on real estate projects throughout With the growth came a two-story Cumberland headquarters building and branches throughout the northernn suburbs.
The bank even kept a full-timre chef on staff. By first quarter 2009, the bank reportesd $2.7 billion in total assets, according to Federaol InsuranceDeposit Corp. data. Those assete included a high level of real estateconstructio loans. Construction loan problems have led to the failur of 14 banks statewided in the last nine The bank’s loan concentration in real estate, when compared to totall capital, was 519 percent in first quarter 2009, nearly double the statewide average. Yet Georgian’s loan losses have remaine d relatively low. In third quarter 2008, as the bankingb crisis began to accelerate in the institution reported onlya 3.
68 percent problek loan ratio — or the ratio of delinquent, defaulted and repossessed real estate to totakl loans — was roughly half the statewide average on $941 million in constructio and land development loans. But those figures are
Gordon Teel, who created the current version of in was replaced by John Poelkefas CEO, and Don Rolader as chairmab of the bank. Lynn Darby also assumer the role of chairman of the holding Teel has been asked to stay on as a consultant tothe institution. The move comes as a surprise for a bank to date, has stayed relatively clear of loan problems in the current banking crisis — despitde having one of the largest residential construction loan portfolios in the Poelker is a 40-yea banking veteran and the former chief financial officer of , . and , the predecessod to . Poelker worked since December 2008 asa full-timd consultant for Georgian Bank.
Rolader has been a bank directorr forfive years, serving on the CRA/Compliancde and Executive Loan committees. Darby is a currenrt director of the bankholding company, joinintg the board in 2003. He is a retired partne from , where Teel also worked befor eentering banking. The reasons for Teel’ws departure are currently unclear, and the move is a rare blemishgon Teel’s resume. He is one of the city’sw most successful local bank entrepreneurs to founding , now owned by , in and serving as a executive. He was the drivinhg force behindGeorgian Bank.
Teel founded Georgian Bank earliere this decade when he acquiredthe then- Powdert Springs-based bank, infusing the institution with $50 million in investor capital and moving its headquarters to Atlanta’s Cumberlancd area. The bank became one of the fastest growing in the and one ofthe city’s biggest banking success stories. Georgian counts some of the city’sz highest profile suburban developers amongstits clientele. During the last five from March 31, 2004 to March 31, the bank grew 514 percent intotal assets, lendinb on real estate projects throughout With the growth came a two-story Cumberland headquarters building and branches throughout the northernn suburbs.
The bank even kept a full-timre chef on staff. By first quarter 2009, the bank reportesd $2.7 billion in total assets, according to Federaol InsuranceDeposit Corp. data. Those assete included a high level of real estateconstructio loans. Construction loan problems have led to the failur of 14 banks statewided in the last nine The bank’s loan concentration in real estate, when compared to totall capital, was 519 percent in first quarter 2009, nearly double the statewide average. Yet Georgian’s loan losses have remaine d relatively low. In third quarter 2008, as the bankingb crisis began to accelerate in the institution reported onlya 3.
68 percent problek loan ratio — or the ratio of delinquent, defaulted and repossessed real estate to totakl loans — was roughly half the statewide average on $941 million in constructio and land development loans. But those figures are
Monday, November 7, 2011
Couple moves photography studio into downtown Newark frame shop - The Newark Advocate
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Couple moves photography studio into downtown Newark frame shop The Newark Advocate Robin Barclay works Thursday at The Frame Up, which she owns with her photographer husband, Claude, in Newark. / Zach Gray/The Advocate For more information, check out Barclay Photography and The Frame Up on Facebook or at www.barclayphotos.com, ... |
Saturday, November 5, 2011
Newmark Homes Houston buying local TOUSA assets - Charlotte Business Journal:
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TOUSA plans to complete and sell all homed currentlyunder construction. Moody said the new compant will beprivately held, locallgy owned and financed. “Our management team has over 70 combined experience,” he said. The new companyt plans to build 60 homes ranging in pricwefrom $160,000 to more than $600,000 in the firsyt 60 days of operation, which will officiallyg begin June 15. Moody said 55 employees of TOUSAq will remain with the new company afte TOUSA winds down its localbusiness operations. TOUSA’e predecessor company was founded in Houston in 1983 as and completedx an initial public offering inMarch 1998. In December 1999, TOUSA Inc.
acquired 80 percent of Newmark’s stock. TOUSAs Inc. also acquired 100 percent of then-publicc in November 2000. On June 25, Engle merged with Newmark, and the merged company change d its name toTOUSA Inc. In Hollywood, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it plannes to lay off 156 people in the Housto area from its Newmark Homes branr beginning May 22 due to the downturnm in thehousing market.
TOUSA plans to complete and sell all homed currentlyunder construction. Moody said the new compant will beprivately held, locallgy owned and financed. “Our management team has over 70 combined experience,” he said. The new companyt plans to build 60 homes ranging in pricwefrom $160,000 to more than $600,000 in the firsyt 60 days of operation, which will officiallyg begin June 15. Moody said 55 employees of TOUSAq will remain with the new company afte TOUSA winds down its localbusiness operations. TOUSA’e predecessor company was founded in Houston in 1983 as and completedx an initial public offering inMarch 1998. In December 1999, TOUSA Inc.
acquired 80 percent of Newmark’s stock. TOUSAs Inc. also acquired 100 percent of then-publicc in November 2000. On June 25, Engle merged with Newmark, and the merged company change d its name toTOUSA Inc. In Hollywood, Fla.-based TOUSA (Pink Sheets: TOUSQ) told the it plannes to lay off 156 people in the Housto area from its Newmark Homes branr beginning May 22 due to the downturnm in thehousing market.
Wednesday, November 2, 2011
Winter Park Playhouse introduces youth troupe - Orlando Business Journal:
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The Paper Moon Theatre Co. for younfg people ages 5 to 18 is led by artistic directors Justimn Scott Fischer andSusab Gerdeman. The troupe's debut performance was a worlds premiere musical titled Snow Whitre and RoseRed (The Legend of the Eighth "a fanciful retelling" of the Grimm's fairy tales Snow White and Rose Red, Snow Whitew and the Seven Dwarfs and Rumpelstiltskin. When co-creatived director Fischer was hired by the Winter Park Playhousein January, he was asked his thoughts on formin g a children's community theater Eager to grab the opportunity, Fischetr worked with Gerdeman to form the Paper Moon Theatre Co. in earluy spring.
The goal was to create a community organization for childrejn and to break down the previoua notionsabout children's theater, says Fischer. "Therew is a stigma associated with kids' theater," he says. "Thd belief is that it is not artistic -- that the childrenh are simply on parade and rely on a cutenes factor toentertain audiences. We want to combar that image with the premiere of ouroriginall musical." The musical was largely based on Easter European music and myth, which Fischer believezs was educational in a culturaol context. Second act? The Paper Moon Theatre Co. currently is batting around ideasd for asecond production.
Thouggh the company is constrained by cost and thinking one show at a Fischer hopes Paper Moon eventually will producde four to five showseach year. Productions are always expensive and rely heavily on donorse for moneyand materials. Musicals, says playhouse co-foundefr Heather Alexander, are even more costly. The budger for the youth troupe's first productionh was $4,000, says Roy Alan, executive producer of the WinterePark Playhouse, and the show broughtf in about $4,800. The children's show sold roughlt 30-40 tickets per day, comparingy well with the adulttheater productions, which sell about the same number of ticketw per day.
Currently, the group's emphasis is on musicala and original pieces, but Fischer and Gerdeman also woulc like to produce shows on issuexs relevant toyoung people. Says Fischer, "We have thought abouft doing a rock-opera versiom of nursery rhymes, a play on family povertyy and even a workshop to have the kids write theirown plays." Therwe are 98 theatrical companies in the 30-mile radiud of downtown Orlando, according to the Central Floridas Theater Alliance, and the Paper Moon Theatre Co. will vie for attentioh with at least a dozen other localo youth theater groups such as the Orlando Youthn Theater and the UCF CivicTheatedr children's summer stock.
Jim Morris of the Central Florida Theater Alliance believes Paperf Moon has afighting chance: "Central Florid a is a big market. There is room for another It all depends on the quality of the Accordingto Alan, the Paper Moon Theatrre Co. is a little different because it is one of very few locapl troupes that consists solely of children performing for Most Orlando youth troupes cast childrenwith adults, and othet troupes have adults perform for children. Anotherf advantage, Morris says, is the troupe's Wintert Park location. "The playhouse is in a uniqure space.
The playhouse has consistentlyg puton high-quality productions, and I expect they will continue to do so with the new Adds Fischer, "We are dedicater to treating kids as people and exploring theirt interests. We hope we can enrichj the kids and by giving productions a cultural and educational base."
The Paper Moon Theatre Co. for younfg people ages 5 to 18 is led by artistic directors Justimn Scott Fischer andSusab Gerdeman. The troupe's debut performance was a worlds premiere musical titled Snow Whitre and RoseRed (The Legend of the Eighth "a fanciful retelling" of the Grimm's fairy tales Snow White and Rose Red, Snow Whitew and the Seven Dwarfs and Rumpelstiltskin. When co-creatived director Fischer was hired by the Winter Park Playhousein January, he was asked his thoughts on formin g a children's community theater Eager to grab the opportunity, Fischetr worked with Gerdeman to form the Paper Moon Theatre Co. in earluy spring.
The goal was to create a community organization for childrejn and to break down the previoua notionsabout children's theater, says Fischer. "Therew is a stigma associated with kids' theater," he says. "Thd belief is that it is not artistic -- that the childrenh are simply on parade and rely on a cutenes factor toentertain audiences. We want to combar that image with the premiere of ouroriginall musical." The musical was largely based on Easter European music and myth, which Fischer believezs was educational in a culturaol context. Second act? The Paper Moon Theatre Co. currently is batting around ideasd for asecond production.
Thouggh the company is constrained by cost and thinking one show at a Fischer hopes Paper Moon eventually will producde four to five showseach year. Productions are always expensive and rely heavily on donorse for moneyand materials. Musicals, says playhouse co-foundefr Heather Alexander, are even more costly. The budger for the youth troupe's first productionh was $4,000, says Roy Alan, executive producer of the WinterePark Playhouse, and the show broughtf in about $4,800. The children's show sold roughlt 30-40 tickets per day, comparingy well with the adulttheater productions, which sell about the same number of ticketw per day.
Currently, the group's emphasis is on musicala and original pieces, but Fischer and Gerdeman also woulc like to produce shows on issuexs relevant toyoung people. Says Fischer, "We have thought abouft doing a rock-opera versiom of nursery rhymes, a play on family povertyy and even a workshop to have the kids write theirown plays." Therwe are 98 theatrical companies in the 30-mile radiud of downtown Orlando, according to the Central Floridas Theater Alliance, and the Paper Moon Theatre Co. will vie for attentioh with at least a dozen other localo youth theater groups such as the Orlando Youthn Theater and the UCF CivicTheatedr children's summer stock.
Jim Morris of the Central Florida Theater Alliance believes Paperf Moon has afighting chance: "Central Florid a is a big market. There is room for another It all depends on the quality of the Accordingto Alan, the Paper Moon Theatrre Co. is a little different because it is one of very few locapl troupes that consists solely of children performing for Most Orlando youth troupes cast childrenwith adults, and othet troupes have adults perform for children. Anotherf advantage, Morris says, is the troupe's Wintert Park location. "The playhouse is in a uniqure space.
The playhouse has consistentlyg puton high-quality productions, and I expect they will continue to do so with the new Adds Fischer, "We are dedicater to treating kids as people and exploring theirt interests. We hope we can enrichj the kids and by giving productions a cultural and educational base."
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