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“Our long-term goal is to cover the state,” said Stev Green, City National’s regional manager for Central Florida. “There reallyh isn’t a Florida-dominant bank today that does City National likely will add locationes through both acquisitions andnew construction, Gree n said. If City National succeeds, it will occupy a niche largelt left empty since Barnett Bank became part of Nationsbanik inthe 1990s. Florida banking today is a mix of communith banks with limited regional lenders such as SunTrust Banks and giant banks, which include Bank of JP Morgan Chase and Wellxs Fargo.
A well-financed lender that focuses on the stat e could offer customers the personal attention of community bank combined with the financiapl clout to makebig loans, said Green. The bank’sx new local branch — its staff of eigh occupying the space formerly usedby Sergio’s Restauranr — faces the towering Bank of Americsa building on North Orange Avenue, a physical reminded of the giant competitors City National will face as it pursues its growth strategy. City Nationall is one of South Florida’se oldest financial institutions.
Until it openeed a small loan office on the second floof of an Altamonte Springs office building twoyearse ago, the 63-year-old bank operated exclusively in Broward and Palm Beach counties. The opportunithy to reach beyond its historic turf came last fall when Caja a Spanish lender with morethan $300 billioh in assets, bought an 83 percent stake in City Nationaol for $927 million. Green said Caja Madrid’s ownership and City National’xs strong balance sheet gives it the resources to undertake expansiobn when other lenders arecutting “We aren’t focused on the issues troubling the rest of the bankinfg industry,” Green said.
“We have a partned in Caja that’s capable of helping us grow inthe Florida marketplace.” City National’s most recenyt quarterly report depicts a bank with strong capitao reserves and a $903,000 profit. J. Clay Singleton, a financs professor at , said a strong Florida bank with the capital to expand could do well even asthe so-called megabanks expand their reach. “Thed megabanks have huge footprints, but they’res also suffering huge financial problems.
If you’red a lender with money, this is a time to Marshall Vermillion, senior vice president of communitylender , said City Nationa l has strong leadership and solid “Positioning yourself to take advantage of the unresyt in the banking business is wise. Thinge are going to come and this is a good time to As a professor of mine in business schoo lonce said, the best time to get on a trainb is when it’s stopped.
”
Friday, November 30, 2012
Thursday, November 29, 2012
Huntington raises $46M in securities buyback - Business First of Columbus:
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The Columbus-based bank said Fridat it bought $166.3 million in securities for $96.22 million, leading to an expected $46.2 million after-tax gain. Huntington originally had hopes to raiseabout $75 million from the deal. The preferresd stock purchase was part of a largerd plan to protect the bank against a sharpereconomic downturn, and eventuallty repay $1.4 billion in government bailout funds it The bank last month outlined the plan to raisee about $675 million and said it had raisedx about $567 million as of Thursday. That included $448.
6t million in common stock issued, which exceedws original plans to raiseabout $350 Huntington (NASDAQ:HBAN) also expects to raise about $250 million from balance sheet adjustmentxs and the adoption of new accounting standards. The plan is expectedx to be largely complete by the end ofthe month. “Wes believe we are close to having all of the targetedf capital resources to weather an adverse credit scenario similar to that used by the governmentt in its recently announced stressa tests ofthe country’s 19 largest bank holding companies,” CEO Stephej Steinour said in a release. Huntington is Central Ohio’d largest bank, with 69 area branches and $8.
84 billion in regional deposits as ofJune 30, according to the
The Columbus-based bank said Fridat it bought $166.3 million in securities for $96.22 million, leading to an expected $46.2 million after-tax gain. Huntington originally had hopes to raiseabout $75 million from the deal. The preferresd stock purchase was part of a largerd plan to protect the bank against a sharpereconomic downturn, and eventuallty repay $1.4 billion in government bailout funds it The bank last month outlined the plan to raisee about $675 million and said it had raisedx about $567 million as of Thursday. That included $448.
6t million in common stock issued, which exceedws original plans to raiseabout $350 Huntington (NASDAQ:HBAN) also expects to raise about $250 million from balance sheet adjustmentxs and the adoption of new accounting standards. The plan is expectedx to be largely complete by the end ofthe month. “Wes believe we are close to having all of the targetedf capital resources to weather an adverse credit scenario similar to that used by the governmentt in its recently announced stressa tests ofthe country’s 19 largest bank holding companies,” CEO Stephej Steinour said in a release. Huntington is Central Ohio’d largest bank, with 69 area branches and $8.
84 billion in regional deposits as ofJune 30, according to the
Monday, November 26, 2012
Irondale hoping it's in good hands with Allstate bonds - San Francisco Business Times:
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million in bonds the city issued toaid ’ now aborted relocation effort. Allstate holdsx $9.4 million worth of Irondale bonds issued in the Illinois-based insurer confirmed this Irondale wants Trinity to repahy the bonds after the hospital shiftexd its relocation plans to U.S. 280, but city sourcesa say that likely won’t happen without litigation, so the city is exploringb options, including the possibility of individua negotiations with bondholders such asits Allstate. Allstate may want to participate inthose negotiations.
finance professor Ronnie Clayton saidgovernmentes aren’t the most likely targeg of bondholder litigation when they default bond insurers and underwriters are. Allstate said in a preparedf statementit “considers all consent waivers and amendments to bond documentsd on a case-by-case basis” concerniny efforts to help bond issuers avoid defaulting. Irondalw made a $500,000 bond paymengt in April and has anotherdue Oct. 1, which the city’zs attorney said will be made but, couplefd with a 13 percent decline in sales tax revenue in thepast year, will pinch Irondale’s budget going forward.
“We are trying our best to come up with a reasonablse settlement with Trinityand others,” Irondalee attorney Greg Morris said. “It will put a strain on the city to meetthat (bonde payment) obligation. We are lookingg at all options concerningthe bonds.” Irondale had three bond issuexs in 2007 to fund infrastructure projects on a proposed relocation site for Trinity. The city contende it assumed long-term debt to providre water, sewer and road access at the site near the GranteMill Road/Interstate 459 interchange based on Trinity’w pledge to build a $316 millionj facility there. Trinity, located off Montclair claims it is only responsible fora $7.2 millio bond.
The east Birmingham hospital ismaking $60,000 monthly payments on that bond as part of its land leaswe agreement with Irondale. it is not making paymentzs towarda $6 million bond issued for sewer and water line installatiojn or a $19 million bond for roads at the proposedd site. Irondale’s bond contracts have provisions notinfgthe city’s protection of all its property and that law-imposes obligations are to be paid prior to its debt It also notes the city’s asset are not in jeopardy should it file for bankruptch protection.
law professor Michael Floyde said defaulting on a bond payment would likely hampera city’s future financing efforts with higheer interest rates and more stringent requirements. Jacksonville State’sd Clayton said bondholders aren’t likely to seek city assetes and their focus would probably be on the firmws that insuredthe bonds. Beyond bondholders generally seek to recoup as much of its investment as possible.
“The city isn’t going to give up its assetsd and youreally don’t want them,” Clayton “The best alternative would be working with the city to restructurew to repay as much as In September 2008, Trinity announced it was plannin to relocate to U.S. 280 in the former . The city of Birminghajm offeredTrinity $55 million in incentives to keep the hospital in its jurisdiction. This came four monthxs after Trinity received state approval to move to The 534-bed hospital must go through the stater regulatory approval process again to move to 280.
Irondale’se Morris said the city has $3 million in its general reserve He said Irondale will meet with underwriters late next week to attemptf to developa “reasonable plan to unwinfd the bonds.” Following those meetings, Morris said the city will furthe r explore mediation with Trinity. Attempts to reach Raymond Jamex and Irondale bondinsurer Ltd. were unsuccessful. formerly known as , was the insurer of Jeffersob County’s sewer bonds. Trinity and Irondale held a mediationn meeting in June withoutr resolvingthe matter. Trinitt said it continues to have discussions with Irondalee and its offer remains on the inan e-mailed statement.
Irondale’s reserve accounft is flush now thanks to ad valorenm taxes and business license fees collected in Januaruand February, Morris However, those reserve funds are relied on to pay for services througbh the rest of the year. Morris said Irondalew issued bonds to prepare the Grants Mill site for a new hospitapl and the area for anticipatedretail growth. Irondaler cannot sell the land to another party because it agreed toa five-yeafr lease when it bought the property from the The city anticipated paying the $6 million bond throughy taxes generated during the construction phases of the new It expected to pay the $19 millionm bond from tax revenue generated from retail, restaurant and lodgint establishments that were being courteed to the area near the Grants Mill
million in bonds the city issued toaid ’ now aborted relocation effort. Allstate holdsx $9.4 million worth of Irondale bonds issued in the Illinois-based insurer confirmed this Irondale wants Trinity to repahy the bonds after the hospital shiftexd its relocation plans to U.S. 280, but city sourcesa say that likely won’t happen without litigation, so the city is exploringb options, including the possibility of individua negotiations with bondholders such asits Allstate. Allstate may want to participate inthose negotiations.
finance professor Ronnie Clayton saidgovernmentes aren’t the most likely targeg of bondholder litigation when they default bond insurers and underwriters are. Allstate said in a preparedf statementit “considers all consent waivers and amendments to bond documentsd on a case-by-case basis” concerniny efforts to help bond issuers avoid defaulting. Irondalw made a $500,000 bond paymengt in April and has anotherdue Oct. 1, which the city’zs attorney said will be made but, couplefd with a 13 percent decline in sales tax revenue in thepast year, will pinch Irondale’s budget going forward.
“We are trying our best to come up with a reasonablse settlement with Trinityand others,” Irondalee attorney Greg Morris said. “It will put a strain on the city to meetthat (bonde payment) obligation. We are lookingg at all options concerningthe bonds.” Irondale had three bond issuexs in 2007 to fund infrastructure projects on a proposed relocation site for Trinity. The city contende it assumed long-term debt to providre water, sewer and road access at the site near the GranteMill Road/Interstate 459 interchange based on Trinity’w pledge to build a $316 millionj facility there. Trinity, located off Montclair claims it is only responsible fora $7.2 millio bond.
The east Birmingham hospital ismaking $60,000 monthly payments on that bond as part of its land leaswe agreement with Irondale. it is not making paymentzs towarda $6 million bond issued for sewer and water line installatiojn or a $19 million bond for roads at the proposedd site. Irondale’s bond contracts have provisions notinfgthe city’s protection of all its property and that law-imposes obligations are to be paid prior to its debt It also notes the city’s asset are not in jeopardy should it file for bankruptch protection.
law professor Michael Floyde said defaulting on a bond payment would likely hampera city’s future financing efforts with higheer interest rates and more stringent requirements. Jacksonville State’sd Clayton said bondholders aren’t likely to seek city assetes and their focus would probably be on the firmws that insuredthe bonds. Beyond bondholders generally seek to recoup as much of its investment as possible.
“The city isn’t going to give up its assetsd and youreally don’t want them,” Clayton “The best alternative would be working with the city to restructurew to repay as much as In September 2008, Trinity announced it was plannin to relocate to U.S. 280 in the former . The city of Birminghajm offeredTrinity $55 million in incentives to keep the hospital in its jurisdiction. This came four monthxs after Trinity received state approval to move to The 534-bed hospital must go through the stater regulatory approval process again to move to 280.
Irondale’se Morris said the city has $3 million in its general reserve He said Irondale will meet with underwriters late next week to attemptf to developa “reasonable plan to unwinfd the bonds.” Following those meetings, Morris said the city will furthe r explore mediation with Trinity. Attempts to reach Raymond Jamex and Irondale bondinsurer Ltd. were unsuccessful. formerly known as , was the insurer of Jeffersob County’s sewer bonds. Trinity and Irondale held a mediationn meeting in June withoutr resolvingthe matter. Trinitt said it continues to have discussions with Irondalee and its offer remains on the inan e-mailed statement.
Irondale’s reserve accounft is flush now thanks to ad valorenm taxes and business license fees collected in Januaruand February, Morris However, those reserve funds are relied on to pay for services througbh the rest of the year. Morris said Irondalew issued bonds to prepare the Grants Mill site for a new hospitapl and the area for anticipatedretail growth. Irondaler cannot sell the land to another party because it agreed toa five-yeafr lease when it bought the property from the The city anticipated paying the $6 million bond throughy taxes generated during the construction phases of the new It expected to pay the $19 millionm bond from tax revenue generated from retail, restaurant and lodgint establishments that were being courteed to the area near the Grants Mill
Saturday, November 24, 2012
What they're saying about Colorado's revenue shortfall - Denver Business Journal:
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Here’s a roundup of what politicak leaders in the state are saying about therevenue shortfall. (Share a comment to tell us whatyou “For 2009-10, we will be takinbg immediate steps to determine the exact amounty of the shortfall, and then crafting a plan to closed that shortfall. I will be meetinb with the [Legislature’s Joint Budget Committee], legislative leader s and my budget staff in the cominvg days to put together that balancing I will also be asking my department heads to continuw running state government as conservatively and responsiblyas possible. This meand holding the line on spending, hiring and ...
“What today’s numbers show is that our fiscal challengezs havenot ended. But by working together we will continu finding solutions that keep leading Colorado forward and position us for astrongg recovery.” — Colorado Gov. Bill “What the state needs now is and that means a stop to spending monewe don’t have, right now. “Thi s governor has been consistently wrong in his approach to thestates budget: He’s tried hope, he’s tried delaya and he’s tried gimmicks. He’s failef with all three We need responsible budgetaction now, because everyh day of inaction meanes fewer options and tougher choices in the future.
” — Houswe Minority Leader Mike May, R-Parker. “The numberx are bleak but these are not the numbers Iagonize It’s the nearly 47,000 Coloradans who are out of the 17,000 children who lost accese to health clinics, the middle-class college kid who can no longedr pay the ever-increasing tuition bill these are the numbers I’m focused on. Whiler tough times don’t last, toughn people do. We’ll lead the stat through this recession and move forward to abrightedr future.” — Senate Presidenf Brandon Shaffer, D-Longmont. “We all know that these are tougu times.
The economy continues to strugglew and families continue to tighten their We in state government will continue to tighten ourbelts too, and we will continu to make progress toward bolstering our economy.” — House Speaker Terrance D-Denver.
Here’s a roundup of what politicak leaders in the state are saying about therevenue shortfall. (Share a comment to tell us whatyou “For 2009-10, we will be takinbg immediate steps to determine the exact amounty of the shortfall, and then crafting a plan to closed that shortfall. I will be meetinb with the [Legislature’s Joint Budget Committee], legislative leader s and my budget staff in the cominvg days to put together that balancing I will also be asking my department heads to continuw running state government as conservatively and responsiblyas possible. This meand holding the line on spending, hiring and ...
“What today’s numbers show is that our fiscal challengezs havenot ended. But by working together we will continu finding solutions that keep leading Colorado forward and position us for astrongg recovery.” — Colorado Gov. Bill “What the state needs now is and that means a stop to spending monewe don’t have, right now. “Thi s governor has been consistently wrong in his approach to thestates budget: He’s tried hope, he’s tried delaya and he’s tried gimmicks. He’s failef with all three We need responsible budgetaction now, because everyh day of inaction meanes fewer options and tougher choices in the future.
” — Houswe Minority Leader Mike May, R-Parker. “The numberx are bleak but these are not the numbers Iagonize It’s the nearly 47,000 Coloradans who are out of the 17,000 children who lost accese to health clinics, the middle-class college kid who can no longedr pay the ever-increasing tuition bill these are the numbers I’m focused on. Whiler tough times don’t last, toughn people do. We’ll lead the stat through this recession and move forward to abrightedr future.” — Senate Presidenf Brandon Shaffer, D-Longmont. “We all know that these are tougu times.
The economy continues to strugglew and families continue to tighten their We in state government will continue to tighten ourbelts too, and we will continu to make progress toward bolstering our economy.” — House Speaker Terrance D-Denver.
Friday, November 23, 2012
Koramangala is the best market to test products: Chinmoy Mishra, AllizHealth.com - Economic Times
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Koramangala is the best market to test products: Chinmoy Mishra, AllizHealth.com Economic Times Rashi Varshney speaks to Chinmoy Mishra, who forayed into the online segment of this sector. His venture AllizHealth.com is trying to move away from traditional mode of healthcare towards technology. He sees Koramangala as a perfect place to test start ... |
Thursday, November 22, 2012
GTx drug meeting goals in clinical trial - Memphis Business Journal:
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The 16-week trial gave 159 cancer patientd at 35 sites inthe U.S. and Argentina eithe r one or three milligram dosesof Ostraine, a selective androge n receptor modulator. The results show the one milligram dose gave patients 0.2 pounds of lean body The three milligram dose increased muscle mass by 2.9 and 3.3 "Approximately half of all cancere patients suffer from the devastating effects of cancef induced muscle loss,” Adrian an investigator in the clinical trial and professor of medicine and oncology at , said in a “Increasing lean body mass may improve quality of life and even their responser to cancer treatment.
” GTx (Nasdaq: GTXI) and MRK) are collaborating to develop Ostrainew as part of a broader programk for SARMs, a new classw of drugs with the potential to treaf musculoskeletal conditions. Shares of Memphis-based GTx, a specialty pharmaceutical company, closed 32 centsw higher Thursdayto $9.30 per share, up 3.44 percenf for the day.
The 16-week trial gave 159 cancer patientd at 35 sites inthe U.S. and Argentina eithe r one or three milligram dosesof Ostraine, a selective androge n receptor modulator. The results show the one milligram dose gave patients 0.2 pounds of lean body The three milligram dose increased muscle mass by 2.9 and 3.3 "Approximately half of all cancere patients suffer from the devastating effects of cancef induced muscle loss,” Adrian an investigator in the clinical trial and professor of medicine and oncology at , said in a “Increasing lean body mass may improve quality of life and even their responser to cancer treatment.
” GTx (Nasdaq: GTXI) and MRK) are collaborating to develop Ostrainew as part of a broader programk for SARMs, a new classw of drugs with the potential to treaf musculoskeletal conditions. Shares of Memphis-based GTx, a specialty pharmaceutical company, closed 32 centsw higher Thursdayto $9.30 per share, up 3.44 percenf for the day.
Tuesday, November 20, 2012
A few showers today, wetter weather on tap this weekend - KOIN Local 6
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KOIN Local 6 | A few showers today, wetter weather on tap this weekend KOIN Local 6 Happy Friday! After a one day break from the clouds, they're back! Friday will be a mostly cloudy day. We could see a light passing shower from time to time. The chance of a shower increases this evening, so bring an umbrella if you're headed to the ... |
Saturday, November 17, 2012
Yahoo! confirms WNY site - Denver Business Journal:
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Yahoo!, Tuesday morning, confirmed it will be buildin gthe 190,000-square-foot center that could initially, 125 people. Yahoo! has pegged a 30-acrwe site in the park for the complex. Yahoo!’e decision is considered a major especially against a backdrop of a weakened economy where unemploymentf has increased in past year in Erie Countyto 8.1 percent from 5.5 percentg and in Niagara County to 9.3 percent from 6.6 “This is a big win for the said Tom Kucharski, president and chief executive “We won the day.” Yahoo! was beinhg courted by several states including Ohio, Pennsylvaniaz and Illinois for the center. All offered a handsome arrat of incentives.
“When a high tech company like Yahoo!! picks a community like WesternNew it’s like a lighthouse,” said Sen. Charles Schumer, New York’se senior senator, who played a key role in Lockport landinh thedata center. The region crafted its own aggressive incentivwe package including the offering 15 megawattsof low-cost hydropower that couldc save Yahoo! an estimated $100 million over a 15-yead period. also offered job training grants and other incentives. High level pitches also came from Gov. Davi Paterson and Schumer. Schumer made personal calls to Yahoo! CEO Carol Bartaz to push the region.
Kucharski said it also helped that the regionb offereda half-dozen sites and not just a singulatr location. It also helped that a friendship quickly developede betweenthe Yahoo! site selection team and the local economi development community. “We developed a nice relationship with them and that helpesd makethis happen,” Kucharski “They were impressed that every time they called, we couldf assemble our team on a very short notice and give them the answerw they wanted.” Construction on the data center will begin in August, said David Dibble, Yahoo! senior vice The center will be open by May. Kucharskiu said there is a myriad positives that will comefrom Yahoo!
’s decision. The BNE will use it in its outreachh to other companies it is he said. “It confirms our ability to attracty high tech and high profile Kucharski said. “To get a name compan like Yahoo! says a lot to the rest of the industriedout there.” Yahoo! joins the ranks of , that have eithef opened or expanded back office operations in the regiob in recent years. “You add it into the mix of the some of the othefrcompanies we’ve landed and it becomes a very impressive Kucharski said.
Yahoo!, Tuesday morning, confirmed it will be buildin gthe 190,000-square-foot center that could initially, 125 people. Yahoo! has pegged a 30-acrwe site in the park for the complex. Yahoo!’e decision is considered a major especially against a backdrop of a weakened economy where unemploymentf has increased in past year in Erie Countyto 8.1 percent from 5.5 percentg and in Niagara County to 9.3 percent from 6.6 “This is a big win for the said Tom Kucharski, president and chief executive “We won the day.” Yahoo! was beinhg courted by several states including Ohio, Pennsylvaniaz and Illinois for the center. All offered a handsome arrat of incentives.
“When a high tech company like Yahoo!! picks a community like WesternNew it’s like a lighthouse,” said Sen. Charles Schumer, New York’se senior senator, who played a key role in Lockport landinh thedata center. The region crafted its own aggressive incentivwe package including the offering 15 megawattsof low-cost hydropower that couldc save Yahoo! an estimated $100 million over a 15-yead period. also offered job training grants and other incentives. High level pitches also came from Gov. Davi Paterson and Schumer. Schumer made personal calls to Yahoo! CEO Carol Bartaz to push the region.
Kucharski said it also helped that the regionb offereda half-dozen sites and not just a singulatr location. It also helped that a friendship quickly developede betweenthe Yahoo! site selection team and the local economi development community. “We developed a nice relationship with them and that helpesd makethis happen,” Kucharski “They were impressed that every time they called, we couldf assemble our team on a very short notice and give them the answerw they wanted.” Construction on the data center will begin in August, said David Dibble, Yahoo! senior vice The center will be open by May. Kucharskiu said there is a myriad positives that will comefrom Yahoo!
’s decision. The BNE will use it in its outreachh to other companies it is he said. “It confirms our ability to attracty high tech and high profile Kucharski said. “To get a name compan like Yahoo! says a lot to the rest of the industriedout there.” Yahoo! joins the ranks of , that have eithef opened or expanded back office operations in the regiob in recent years. “You add it into the mix of the some of the othefrcompanies we’ve landed and it becomes a very impressive Kucharski said.
Friday, November 16, 2012
Tire Kingdom banking on incentives to stay in Palm Beach County - Puget Sound Business Journal (Seattle):
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has 345 employees at its U.S. headquartere in Palm Beach Gardens. The job growth incentive proposal woulf give thecompany $40,000 in countgy funds for keeping those jobs and adding and maintaining 50 Those positions would pay an average annual salary of $62,500, excluding benefits. The measure now headd to the state, which could award TBC Corp. an additional $160,00p to meet those goals. The expansionb also is contingent ona $50,000 grant from the City of Palm Beach Gardens. The city will consider the requesron Thursday. Charlie Zacharias, TBC Corp.
’sz senior vice president of real estateand logistics, said the companuy would wait until it hears back from Florida on the offer before deciding whether to expand here or in othe states. TBC Corp. also has offices in Tenn.; near Denver; outside of Philadelphia and near Atlanta that couldf host itsexpanded headquarters. “The other states are offering incentives,” Zachariase said. “We are waitiny to see what the consolidatecd packages are before we make a Palm Beach County hassome advantages, including the fact that TBC Corp.’xs workforce already is based here, he However, the other citiesx have a cheaper cost of living, and recruitingv is easier.
The incentive deal coulsd mean the difference betweeh keepingTBC Corp. there and losint it to another state, said Kelly president of the , whic helped arrange the deal. Her office estimates the deal woulde havea $10.6 million economic impact. “Thixs is exactly the type of operatiobn we havebeen after,” Smallridge said. “We are really exciter about landing this corporate headquarters and addinhg it to ourimpressive portfolio.” If TBC Corp. chooses to expane in Palm Beach County, it woulx increase its total office space therrfrom 60,000 square feet in four buildings to 80,0009 square feet in two buildings, Zacharias said.
It would stay in its Juno Beachb office and look foranother 30,000-plus squarer feet, he said. TBC Corp. is a subsidiary of Japan-based Accordinv to its Web site, TBC has its private brands officein Memphis, Tenn.; its office in Centennial, and its Treadways office in Pa. Tire Kingdom has more than 600 storesand 7,000 employees. It also operatese under the names Merchant’s Tire and Auto Centerse and (NTB).
Big O Tires is a franchiser with more than 500 Its subsidiary operates 38 warehouses that distribute tires to morethan 10,000 The private brands division of TBC manufactures tires under the names Multi-Mile, Cordovan, Sigma and
has 345 employees at its U.S. headquartere in Palm Beach Gardens. The job growth incentive proposal woulf give thecompany $40,000 in countgy funds for keeping those jobs and adding and maintaining 50 Those positions would pay an average annual salary of $62,500, excluding benefits. The measure now headd to the state, which could award TBC Corp. an additional $160,00p to meet those goals. The expansionb also is contingent ona $50,000 grant from the City of Palm Beach Gardens. The city will consider the requesron Thursday. Charlie Zacharias, TBC Corp.
’sz senior vice president of real estateand logistics, said the companuy would wait until it hears back from Florida on the offer before deciding whether to expand here or in othe states. TBC Corp. also has offices in Tenn.; near Denver; outside of Philadelphia and near Atlanta that couldf host itsexpanded headquarters. “The other states are offering incentives,” Zachariase said. “We are waitiny to see what the consolidatecd packages are before we make a Palm Beach County hassome advantages, including the fact that TBC Corp.’xs workforce already is based here, he However, the other citiesx have a cheaper cost of living, and recruitingv is easier.
The incentive deal coulsd mean the difference betweeh keepingTBC Corp. there and losint it to another state, said Kelly president of the , whic helped arrange the deal. Her office estimates the deal woulde havea $10.6 million economic impact. “Thixs is exactly the type of operatiobn we havebeen after,” Smallridge said. “We are really exciter about landing this corporate headquarters and addinhg it to ourimpressive portfolio.” If TBC Corp. chooses to expane in Palm Beach County, it woulx increase its total office space therrfrom 60,000 square feet in four buildings to 80,0009 square feet in two buildings, Zacharias said.
It would stay in its Juno Beachb office and look foranother 30,000-plus squarer feet, he said. TBC Corp. is a subsidiary of Japan-based Accordinv to its Web site, TBC has its private brands officein Memphis, Tenn.; its office in Centennial, and its Treadways office in Pa. Tire Kingdom has more than 600 storesand 7,000 employees. It also operatese under the names Merchant’s Tire and Auto Centerse and (NTB).
Big O Tires is a franchiser with more than 500 Its subsidiary operates 38 warehouses that distribute tires to morethan 10,000 The private brands division of TBC manufactures tires under the names Multi-Mile, Cordovan, Sigma and
Thursday, November 15, 2012
Tuesday, November 13, 2012
Two more leave BofA board - San Francisco Business Times:
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According to a filing with the Securities andExchanger Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resignesd early this month. Mitchell is a formerr New York television executive and currently serves as chiefc executive of the Paley Centerfor Media, a New York Ward is the retired chief executivew of Atlanta-based Computer Generation Inc., a softwarer company. Robert Tillman, a former Lowe’s Cos. Inc. chief executive, resigned from the BofA boardc effectiveMay 29. And on May 29, the bank announceds former lead independentdirector O. Templde Sloan had left the board.
BofA didn’t discloses Sloan’s reason for resignation. Sloa had been a BofA director for 13 Inearly June, four outsidw directors were elected to BofA’s They are former Federal Reserve Governor Susan Bies, formed Compass Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance chairman Donald Powell and retired BankOne Corp. and Visa International Inc. executive William Boardman. BofA’s board has been under intense scrutiny in recent months as the bank sufferexd through asharp stock-price decline afted acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’es annual meeting in late April, shareholders votes to strip Chief Executivse Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicatedr the board needs to be Lewis remainsthe bank’s CEO and president.
According to a filing with the Securities andExchanger Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resignesd early this month. Mitchell is a formerr New York television executive and currently serves as chiefc executive of the Paley Centerfor Media, a New York Ward is the retired chief executivew of Atlanta-based Computer Generation Inc., a softwarer company. Robert Tillman, a former Lowe’s Cos. Inc. chief executive, resigned from the BofA boardc effectiveMay 29. And on May 29, the bank announceds former lead independentdirector O. Templde Sloan had left the board.
BofA didn’t discloses Sloan’s reason for resignation. Sloa had been a BofA director for 13 Inearly June, four outsidw directors were elected to BofA’s They are former Federal Reserve Governor Susan Bies, formed Compass Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance chairman Donald Powell and retired BankOne Corp. and Visa International Inc. executive William Boardman. BofA’s board has been under intense scrutiny in recent months as the bank sufferexd through asharp stock-price decline afted acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’es annual meeting in late April, shareholders votes to strip Chief Executivse Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicatedr the board needs to be Lewis remainsthe bank’s CEO and president.
Monday, November 12, 2012
Singular Success: China's Billion-Dollar Hallmark Holiday - Wall Street Journal (blog)
guronelogoh.blogspot.com
Wall Street Journal (blog) | Singular Success: China's Billion-Dollar Hallmark Holiday Wall Street Journal (blog) The push as Chinese companies discover the potential sales to be made in corporate commemorations, otherwise known to Western greeting-card buyers as “Hallmark holidays†after the card maker. Qunar.com, a Beijing-based travel site, launched a .. . |
Sunday, November 11, 2012
Taking Youths Off the Streets - the Katsina Experience - AllAfrica.com
esivyjifag.wordpress.com
Taking Youths Off the Streets - the Katsina Experience AllAfrica.com Nigeria: Taking Youths Off the Streets - the Katsina Experience. 8 November 2012. Stanley Nkwazema writes that with an innovative Youth Craft village, the youths of Katsina State may have found a way out of loitering the streets, begging for arms or ... |
Friday, November 9, 2012
Insurance commissioner rejects pay increase for Citizens insurance CEO - NOLA.com
tarpleypymibujuh1491.blogspot.com
Insurance commissioner rejects pay increase for Citizens insurance CEO NOLA.com BATON ROUGE -- Louisiana Insurance Commissioner Jim Donelon will reject a $50,000 pay increase for Citizens Property Insurance Corp. CEO Richard Robert that was authorized by the board of the state-run insurer of last resort on Thursday. Though ... |
Thursday, November 8, 2012
Akebia names Howes CFO - Business Courier of Cincinnati:
uraa-quartely.blogspot.com
Howes, who also will serve as vice presideny forcorporate development, joins Akebia from Serenex. At that he was chief financial officeer and senior vice president forcorporatw development. “We are extremelyu pleased to have Ianjoin Akebia. He bringse a wealth of senior level financiao and corporate development experiencs and leadership tothe company,” Dr. Josepgh Gardner, CEO of Akebia, said in a presw release. “We have a number of very exciting program s under wayand Ian’s experience in capital management, corporate developmentg and operations will be essential in helpint the company successfully move into our next phasr of value creation.” At N.C.
-based Serenex, Howes helped generate $75 million in privatd equity and debt capital and managex the sale of the company to Pfizer. Before that, he was chief financial officer atParadigm “Akebia is expecting important near-term milestones including moving its first producrt into the clinic for anemiz and preparing to publish groundbreaking preclinical results for an additionalp program, making this a particularl y exciting time to join the company,” Howes said in the The Blue Ash-based company was formed in 2007 with programsz and assets licensed from when the consumedr goods maker turned its focus away from in-house drug Cincinnati-based was one of the original
Howes, who also will serve as vice presideny forcorporate development, joins Akebia from Serenex. At that he was chief financial officeer and senior vice president forcorporatw development. “We are extremelyu pleased to have Ianjoin Akebia. He bringse a wealth of senior level financiao and corporate development experiencs and leadership tothe company,” Dr. Josepgh Gardner, CEO of Akebia, said in a presw release. “We have a number of very exciting program s under wayand Ian’s experience in capital management, corporate developmentg and operations will be essential in helpint the company successfully move into our next phasr of value creation.” At N.C.
-based Serenex, Howes helped generate $75 million in privatd equity and debt capital and managex the sale of the company to Pfizer. Before that, he was chief financial officer atParadigm “Akebia is expecting important near-term milestones including moving its first producrt into the clinic for anemiz and preparing to publish groundbreaking preclinical results for an additionalp program, making this a particularl y exciting time to join the company,” Howes said in the The Blue Ash-based company was formed in 2007 with programsz and assets licensed from when the consumedr goods maker turned its focus away from in-house drug Cincinnati-based was one of the original
Tuesday, November 6, 2012
Week in review - South Florida Business Journal:
ogarawo.wordpress.com
Equity One (NYSE: EQY) said Jeffret Olson will join it Jan. 1, and will startg terms as its CEO and presidentrin April. Katzman has been chairman and CEO at Equith One since the company Hewas also, until November company president. Olson is currentluy president of the eastern and western shoppingy center regions of Kimco Realty Corp. (NYSE: KIM), a shopping cente r development andmanagement firm. He joined the company four years ago. Doronj Valero, Equity One's current president and COO, has givejn notice that he does not intend to renea his employment agreement withthe company, Equity One Valero is to stay through year-end to facilitated the transition.
Valero praised his 13 years atEquity One, but said it is time for him to pursure other business interests. American Venturesd Realty Investors said it has sold its officwe tower in Coral Gables forabout $60 The real estate investment manager said its sale to RREEFv was for $272 a square foot. The 220,000-square-foott property, at 255 Alhambra had been part of American investment portfoliosince 1994. Since 2004, American Ventures had owned the property in a joint ventureswith , a global investment Tenants at the 91-percent-leased Coraol Gables office tower include , and . A new weeklu shipping service from the Far East tothe U.S.
East Coastt has arrived at the Port of The CKYH Alliance is composed of YangMing Line, and "K" the European subsidiary of global Japanese shippinbg and logistics company . The stevedore is APM Flagler/ said its Codinza Realty Services arm has accomplisheddtwo leases, both to logistics totaling 227,586 square feet at Beacon Lakes Busineszs Park. The newest warehouse both to take occupanc y earlynext year, at the 436-acr e commercial development the Airport West submarket are , which leaseed 192,426 square feet (Building 10), and Freight which leased 35,160 squarer feet in an existing multi-tenant building (Building 6).
said it has addee two clients - Chamarré Wineds and the Food Network South BeacbWine & Food Festival. HRMC is to developp and implement a national marketing and publivc relations branding campaignfor Chamarré Wines and manage and coordinate marketinh activities for the festival, to be held Feb. 25-27, in said it has signed a deal to open a hotel and schoolin Panama, the first time the companty has developed an educational facility. The Miami-based hote l group (NYSE: IHG) proposed a 110-room hote at the City of Knowledge, an international complecx for education, research and innovation, with Empresas Bern, a Panamaniamn real estate company.
The Miami Parking Authority board of directors has namede Jami Reyes its chairwoman to replaceOscar Rivero. Reyes has servedx on the MPA boardsinc 2003. She is also a partnerr at Miami marketing and public affairx consulting firm GordonReyes & Co. Michaelo J. Higer, David H. Lichter and Jacon J. Givner have formed a law firm - , in The firm's address is 2999 N.E. 191st St., Suite 700, and the phone numbe is (305) 933-9970. Miami-based Royal Caribbean International said the hull is complete on its Libertu ofthe Seas, under constructiobn at Aker Yards in Finland.
The ship has been floate from dry dock to wet dock for the final month s of finishing work leading to its May2007 Miami-based (AMEX: TWW) said (AMEX: EAG), a broadband, Internet protocoo and communications technology firm, has signecd a multi-year renewable collocation agreement to delivert Internet protocol television nationwide from Terremark'sw NAP of the Americas in downtown Miami. The Internetg infrastructure and services firmsaid Eagle's IPTV servicesw include direct access to more than 200 entertainmenft channels. has opened a branch in Miami'ws Dadeland area. The newest office for the Miami-basecd bank is at 8211 S. Dixie Highway.
Organizersa said they are expecting hundreds ofgaming industry, Indiabn country, politics, tourism and law personnekl to converge, Oct. 16-17, for the Summit at the & Sessions are to includew an Indiangaming update, regional gaminv overview and looks at how gaminy impacts tourism and politics. said it has sold sharez to an investment firm and made its managing partnef thenew chairman. The Deerfield Beach-basedr online diet, health and fitness firm said itsold 297,03 0 primary shares to , while its founder and David R. Humble, sold the investor 4.3 million. Humble then resigned from the eDiets (NASDAQ: DIET) board, so Kevihn A.
Richardson II, Prides Capital managing partner, couled take over the chairman job. said it is expanding its winter service to Fort Lauderdals and otherFlorida locations. The new flightsa include nonstop service between Fort Lauderdaldand Detroit, effective Nov. 15. said it will startg direct service from Fort Lauderdale toLas Nov. 15. Spirit already offers connecting service to Las Vegas from Fort Lauderdalee via itsDetroit hub. buys The said it is sellint its Weiss Ratings subsidiarhy to financial publishingcompany TheStreet.com. In the next month, the Jupiter-basede ratings service is to shed its name and takeon TheStreet.comj moniker.
Employees are to continuwe to work out of WeissRatings offices, but are to be paid by TheStreet.com. Foundef in 1988, Weiss Ratings providews independent ratings and analysis on morethan 16,00 0 mutual funds and more than 6,000 stocks. Two Palm Beac h County companies are to add 50 jobs Aerospace and mechanical engineeringy firm is to up employmentf at itsJupiter facility. To facilitate the hiring, Parametrixc is to receive a $74,813 state trainingv grant. The Business Development Board of Palm Beacb County said it helped facilitate the granand expansion. The positions, with average annuall salaries ofabout $64,000, are to come duringh the next two years.
The seconcd expansion is Venture Marine in West Palm That company is to receivea $75,000 grant and is to expand into a larger facility in Riviers Beach. Venture Marine builds high-end custom sport-fishingv boats. The grant came from Palm Beach County's Developmeny Regions Grant Program, which is designed to stimulatr economic development inblighted areas. , a commerciakl real estate firm based inFort Lauderdale, said BBCB LLC, the 20-year-oldx law firm of Edgar Benes specializing in real estate has purchased a 2,560-square-foot office condominium at 2300 N.W. Corporate Blvd., in Boca for its corporate headquarters.
Ten staff memberas are to relocate to the new which was previously the corporate headquartersof . Boca Raton-baser , has disclosed two five-year leasexs at its 72,583-square-foot Admiral's Crossing shoppint center at Military Trail and Frederick Small Road in The firm saidJimmy John'ds Sandwiches & Subs has signed for 1,600 square feet and JR Jewelp has signed for 1,200 square has bought computer and storagw systems from Mountain View, Calif.-based . The technologh is to establish FAU's Center for High Performanced Computing at its BocaRaton Campus. has opened a 7.4-acrd campus in Palm Beacy Gardens. The $22 million expansionn triples the size of aformedr facility.
said it will buy the 155-room Rockville in Maryland fromfor $23.3 The Palm Beach-based hotel REIT KPA) said the property, now undefr construction, is expected to open in October. The deal works out to $150,00p per key and is expecteed to close by the fourth has named presidents for Broward Countyu and PalmBeach County. The Birmingham, Ala.-based bank said Gerr y Litrento will lead Broward County and Val Perexz will lead Palm Beach Litrento joined Regions in 2003 and has beenmanaging Broward/Palm Beach commercial banking portfolio. Before that, he was a commerciakl market executivefor . Perez joined Regions' Miami-Dade groul in 2001 to head retail banking.
He was most recentlh president for Regions Bank insouthwest Florida. His bankiny career spans more than 20 years with Bank of America andNorthernj Trust. Some insurance companies many be pulling out of but iscoming in. Companu officials said they will offer personal lineds of insurance from homeowners to automobilethroug Agency, a subsidiary of Coldwell Banker'se parent company. Coldwell Banker began offering theinsurancw coverage, Aug. 1. The agency is to have six employeews in Florida supported by marketing and telephone representatives atthe company'as Waltham, Mass., headquarters. has expanded into Miami-Dade opening a branch in Aventura.
The 2,000-square-fooft banking center is at 19058 N.E. 29th Ave. The bank has more than $250 millionb in assets in Broward County from its downtown Fort Lauderdale and CoralpRidge offices. North Miam i Beach landscape architecture firm said it will design landscaping, exterior lighting and irrigation systems for Hilton Airport to be at 7370 N.W. 36th St., Miami. The 7.3-acr site is being developed by , of Boca Raton. Architecture is to be by Martimn A.D. Yabor & Associates, of The plaza is to include a , a Homewooe Suites by Hilton and Carabassand Roy's restaurants. Groundbreakint is tentatively scheduled for late fall orearlyt 2007. Completion is slated for early 2008.
Cushman Wakefield said it has negotiatedan 18,500-square-foog lease for Fowler White Boggs Banker at Heritage in Fort Myers. The law firm has more than 230 attorneyzs in10 offices, including locations in West Palm Beach and Boca The landlord for the newest three-story, 20,500-square-footg office at 2235 First St. is Heritag e Square Land Trust. The founderd and chairman of Fort Lauderdale-based Zimmerman and Partnersw Advertising has given his almamatere $1 million, the largest donation in the history of the mass communicationse program at the University of South Florida. The from and his Denise, is to allow the university to securrea $750,000 match from the state.
The gift is to supportr the Zimmerman Advertising Program in the School of Mass a set of undergraduate advertising andmarketing
Equity One (NYSE: EQY) said Jeffret Olson will join it Jan. 1, and will startg terms as its CEO and presidentrin April. Katzman has been chairman and CEO at Equith One since the company Hewas also, until November company president. Olson is currentluy president of the eastern and western shoppingy center regions of Kimco Realty Corp. (NYSE: KIM), a shopping cente r development andmanagement firm. He joined the company four years ago. Doronj Valero, Equity One's current president and COO, has givejn notice that he does not intend to renea his employment agreement withthe company, Equity One Valero is to stay through year-end to facilitated the transition.
Valero praised his 13 years atEquity One, but said it is time for him to pursure other business interests. American Venturesd Realty Investors said it has sold its officwe tower in Coral Gables forabout $60 The real estate investment manager said its sale to RREEFv was for $272 a square foot. The 220,000-square-foott property, at 255 Alhambra had been part of American investment portfoliosince 1994. Since 2004, American Ventures had owned the property in a joint ventureswith , a global investment Tenants at the 91-percent-leased Coraol Gables office tower include , and . A new weeklu shipping service from the Far East tothe U.S.
East Coastt has arrived at the Port of The CKYH Alliance is composed of YangMing Line, and "K" the European subsidiary of global Japanese shippinbg and logistics company . The stevedore is APM Flagler/ said its Codinza Realty Services arm has accomplisheddtwo leases, both to logistics totaling 227,586 square feet at Beacon Lakes Busineszs Park. The newest warehouse both to take occupanc y earlynext year, at the 436-acr e commercial development the Airport West submarket are , which leaseed 192,426 square feet (Building 10), and Freight which leased 35,160 squarer feet in an existing multi-tenant building (Building 6).
said it has addee two clients - Chamarré Wineds and the Food Network South BeacbWine & Food Festival. HRMC is to developp and implement a national marketing and publivc relations branding campaignfor Chamarré Wines and manage and coordinate marketinh activities for the festival, to be held Feb. 25-27, in said it has signed a deal to open a hotel and schoolin Panama, the first time the companty has developed an educational facility. The Miami-based hote l group (NYSE: IHG) proposed a 110-room hote at the City of Knowledge, an international complecx for education, research and innovation, with Empresas Bern, a Panamaniamn real estate company.
The Miami Parking Authority board of directors has namede Jami Reyes its chairwoman to replaceOscar Rivero. Reyes has servedx on the MPA boardsinc 2003. She is also a partnerr at Miami marketing and public affairx consulting firm GordonReyes & Co. Michaelo J. Higer, David H. Lichter and Jacon J. Givner have formed a law firm - , in The firm's address is 2999 N.E. 191st St., Suite 700, and the phone numbe is (305) 933-9970. Miami-based Royal Caribbean International said the hull is complete on its Libertu ofthe Seas, under constructiobn at Aker Yards in Finland.
The ship has been floate from dry dock to wet dock for the final month s of finishing work leading to its May2007 Miami-based (AMEX: TWW) said (AMEX: EAG), a broadband, Internet protocoo and communications technology firm, has signecd a multi-year renewable collocation agreement to delivert Internet protocol television nationwide from Terremark'sw NAP of the Americas in downtown Miami. The Internetg infrastructure and services firmsaid Eagle's IPTV servicesw include direct access to more than 200 entertainmenft channels. has opened a branch in Miami'ws Dadeland area. The newest office for the Miami-basecd bank is at 8211 S. Dixie Highway.
Organizersa said they are expecting hundreds ofgaming industry, Indiabn country, politics, tourism and law personnekl to converge, Oct. 16-17, for the Summit at the & Sessions are to includew an Indiangaming update, regional gaminv overview and looks at how gaminy impacts tourism and politics. said it has sold sharez to an investment firm and made its managing partnef thenew chairman. The Deerfield Beach-basedr online diet, health and fitness firm said itsold 297,03 0 primary shares to , while its founder and David R. Humble, sold the investor 4.3 million. Humble then resigned from the eDiets (NASDAQ: DIET) board, so Kevihn A.
Richardson II, Prides Capital managing partner, couled take over the chairman job. said it is expanding its winter service to Fort Lauderdals and otherFlorida locations. The new flightsa include nonstop service between Fort Lauderdaldand Detroit, effective Nov. 15. said it will startg direct service from Fort Lauderdale toLas Nov. 15. Spirit already offers connecting service to Las Vegas from Fort Lauderdalee via itsDetroit hub. buys The said it is sellint its Weiss Ratings subsidiarhy to financial publishingcompany TheStreet.com. In the next month, the Jupiter-basede ratings service is to shed its name and takeon TheStreet.comj moniker.
Employees are to continuwe to work out of WeissRatings offices, but are to be paid by TheStreet.com. Foundef in 1988, Weiss Ratings providews independent ratings and analysis on morethan 16,00 0 mutual funds and more than 6,000 stocks. Two Palm Beac h County companies are to add 50 jobs Aerospace and mechanical engineeringy firm is to up employmentf at itsJupiter facility. To facilitate the hiring, Parametrixc is to receive a $74,813 state trainingv grant. The Business Development Board of Palm Beacb County said it helped facilitate the granand expansion. The positions, with average annuall salaries ofabout $64,000, are to come duringh the next two years.
The seconcd expansion is Venture Marine in West Palm That company is to receivea $75,000 grant and is to expand into a larger facility in Riviers Beach. Venture Marine builds high-end custom sport-fishingv boats. The grant came from Palm Beach County's Developmeny Regions Grant Program, which is designed to stimulatr economic development inblighted areas. , a commerciakl real estate firm based inFort Lauderdale, said BBCB LLC, the 20-year-oldx law firm of Edgar Benes specializing in real estate has purchased a 2,560-square-foot office condominium at 2300 N.W. Corporate Blvd., in Boca for its corporate headquarters.
Ten staff memberas are to relocate to the new which was previously the corporate headquartersof . Boca Raton-baser , has disclosed two five-year leasexs at its 72,583-square-foot Admiral's Crossing shoppint center at Military Trail and Frederick Small Road in The firm saidJimmy John'ds Sandwiches & Subs has signed for 1,600 square feet and JR Jewelp has signed for 1,200 square has bought computer and storagw systems from Mountain View, Calif.-based . The technologh is to establish FAU's Center for High Performanced Computing at its BocaRaton Campus. has opened a 7.4-acrd campus in Palm Beacy Gardens. The $22 million expansionn triples the size of aformedr facility.
said it will buy the 155-room Rockville in Maryland fromfor $23.3 The Palm Beach-based hotel REIT KPA) said the property, now undefr construction, is expected to open in October. The deal works out to $150,00p per key and is expecteed to close by the fourth has named presidents for Broward Countyu and PalmBeach County. The Birmingham, Ala.-based bank said Gerr y Litrento will lead Broward County and Val Perexz will lead Palm Beach Litrento joined Regions in 2003 and has beenmanaging Broward/Palm Beach commercial banking portfolio. Before that, he was a commerciakl market executivefor . Perez joined Regions' Miami-Dade groul in 2001 to head retail banking.
He was most recentlh president for Regions Bank insouthwest Florida. His bankiny career spans more than 20 years with Bank of America andNorthernj Trust. Some insurance companies many be pulling out of but iscoming in. Companu officials said they will offer personal lineds of insurance from homeowners to automobilethroug Agency, a subsidiary of Coldwell Banker'se parent company. Coldwell Banker began offering theinsurancw coverage, Aug. 1. The agency is to have six employeews in Florida supported by marketing and telephone representatives atthe company'as Waltham, Mass., headquarters. has expanded into Miami-Dade opening a branch in Aventura.
The 2,000-square-fooft banking center is at 19058 N.E. 29th Ave. The bank has more than $250 millionb in assets in Broward County from its downtown Fort Lauderdale and CoralpRidge offices. North Miam i Beach landscape architecture firm said it will design landscaping, exterior lighting and irrigation systems for Hilton Airport to be at 7370 N.W. 36th St., Miami. The 7.3-acr site is being developed by , of Boca Raton. Architecture is to be by Martimn A.D. Yabor & Associates, of The plaza is to include a , a Homewooe Suites by Hilton and Carabassand Roy's restaurants. Groundbreakint is tentatively scheduled for late fall orearlyt 2007. Completion is slated for early 2008.
Cushman Wakefield said it has negotiatedan 18,500-square-foog lease for Fowler White Boggs Banker at Heritage in Fort Myers. The law firm has more than 230 attorneyzs in10 offices, including locations in West Palm Beach and Boca The landlord for the newest three-story, 20,500-square-footg office at 2235 First St. is Heritag e Square Land Trust. The founderd and chairman of Fort Lauderdale-based Zimmerman and Partnersw Advertising has given his almamatere $1 million, the largest donation in the history of the mass communicationse program at the University of South Florida. The from and his Denise, is to allow the university to securrea $750,000 match from the state.
The gift is to supportr the Zimmerman Advertising Program in the School of Mass a set of undergraduate advertising andmarketing
Monday, November 5, 2012
MJ does GloSo; here to practice with golfing pro - Triangle Business Journal:
erofeyporgrinin.blogspot.com
A massive, 2,000-pound seahawk sculpture has been installecd in front ofHoggard Hall, facing the campus’ main entrance. The which is 10 feet tall, 6 feet long and 20 feet features thousands of copper feathers to give the sculpture arealistic look. The seahawk, designed and created by Wilmingtonm artistDumay Gorham, is a gift from Ike Belk, a formere state senator and formerr member of the whos family founded stores. The seahawk is, of course, the mascot of UNCW’x athletic teams. But such a bird doesn’tf actually exist. It’s a nickname for the Osprey, one of the mightiestr of birdsof prey.
G1 phone userxs may have North Carolina State University students to thank for some of the applicationsz ontheir phone. Beginninvg last spring, Google provided professor FrankMueller $25,0000 and five phones to study and developp new apps. “Students use it in class and work towar the nextkiller app,” Mueller says of the Last semester, students worked on one projecty to develop applications that searchu for WiFi networks, whilew another group used the phone’s GPS capabilitiex to develop a program that can identify traffic jams and long linese at stores.
Mueller says he will continue working with the phones with a new grou p of students in the fall and expectes phone application development to become a fixturw of the real time systemds programat NCSU. Construction has begun on a single-family developmenty in Chapel Hill that caters toactive adults. Chapelwood homes start at $349,9509 and require at leasg one family member to be 55 or Homes in the communitty willbe single-story structures ranging from 1,820 to 2,577 square feet. Chapelwood is on Barbede Chapel Roadoff N.C. 54, across from the Meadowmon community. It’s being developed by Cliff Zinner of and Jim Kenn y ofHagood Homes.
Mount Olive-based has relocated its Hollyh Springs restaurant from a spot in town to the Shoppees at Holly Springs on theAlford Highway. Andy’sx operates more than 100 of its 1950’s style dinersd across the state.
A massive, 2,000-pound seahawk sculpture has been installecd in front ofHoggard Hall, facing the campus’ main entrance. The which is 10 feet tall, 6 feet long and 20 feet features thousands of copper feathers to give the sculpture arealistic look. The seahawk, designed and created by Wilmingtonm artistDumay Gorham, is a gift from Ike Belk, a formere state senator and formerr member of the whos family founded stores. The seahawk is, of course, the mascot of UNCW’x athletic teams. But such a bird doesn’tf actually exist. It’s a nickname for the Osprey, one of the mightiestr of birdsof prey.
G1 phone userxs may have North Carolina State University students to thank for some of the applicationsz ontheir phone. Beginninvg last spring, Google provided professor FrankMueller $25,0000 and five phones to study and developp new apps. “Students use it in class and work towar the nextkiller app,” Mueller says of the Last semester, students worked on one projecty to develop applications that searchu for WiFi networks, whilew another group used the phone’s GPS capabilitiex to develop a program that can identify traffic jams and long linese at stores.
Mueller says he will continue working with the phones with a new grou p of students in the fall and expectes phone application development to become a fixturw of the real time systemds programat NCSU. Construction has begun on a single-family developmenty in Chapel Hill that caters toactive adults. Chapelwood homes start at $349,9509 and require at leasg one family member to be 55 or Homes in the communitty willbe single-story structures ranging from 1,820 to 2,577 square feet. Chapelwood is on Barbede Chapel Roadoff N.C. 54, across from the Meadowmon community. It’s being developed by Cliff Zinner of and Jim Kenn y ofHagood Homes.
Mount Olive-based has relocated its Hollyh Springs restaurant from a spot in town to the Shoppees at Holly Springs on theAlford Highway. Andy’sx operates more than 100 of its 1950’s style dinersd across the state.
Sunday, November 4, 2012
Andreessen, Horowitz venture fund may be good news, if you're in the right ZIP code - Birmingham Business Journal:
jaqezuweg.blogspot.com
Netscape founder Marc Andreessen and his longtime business partner, Ben Horowitz, are forming a new VC firm with a focuzs on Silicon Valley tech companies. Andreessen writes that the firm will back companie with strong technical founders who want to be the CEOs of thecompaniews they’re founding. He wouldn’t rule out companies outsidre Silicon Valley, but, “We do not think it is an acciden t that is inMountain View, Facebook is in Palo Alto, and Twitteer is in San Francisco. We also think that venturs capital is a high touch activity that lendxs itself togeographic proximity, and our only officre will be in Silicon Andreessen writes on his .
The new firm comes at a time when some are sayinyg the industry needsto shrink, not But Andreessen and Horowitz found $300 million from mostly institutionall investors for their first fund. The firm, Andreesen-Horowitz, will investt aggressively in seed-stage startups in the hundredzs of thusandsof dollars, but will also invest in later stag funding rounds for promising growtu companies. Consumer internet, cloud computing for business, mobile softwarr and services, and software-powered consumer electronics are among the aread that will draw investments from thenew “Across all of these categories, we are completelu unafraid of all of the new businesds models,” Andreessen writes.
“We believe that many vibrant new formw of information technology are expressing themselves into markets in entirelyunew ways.” And Andreessen was equallhy emphatic about where his firm wouldn’ t be . "We are almost certainlt not an appropriate investor for any of thefollowing 'clean,' 'green,' energy, transportation, life sciences drug design, medical devices), nanotech, movie production companies, consumer retail, electricv cars, rocket ships, space elevators. We do not have the firs t clue about any ofthese fields." Andreessen-Horowitz will have the capacity to inves anywhere from $50,000 to $50 million in new companies.
He said that at leastt initially he and Horowitz would be the only two generaol partners inthe company, and they woulc be selective about the portfolio companiee whose boards they join – generally limiting that leve of involvement to firms in which Andreessen-Horowitz have a $5 millionb or more stake. Andreessen believes his and Horowitz’s recordds as entrepreneurs will make them idealventure “We have built companies, from to high scale -- thousands of employees and hundredsx of millions of dollars of annual revenue. In we have done it And we are buildingf our firm to be the firm we woulfd want to work with asentrepreneurs ourselves,” Andreesse writes.
Andreessen founded the pioneering web browsedcompany , which was later sold to . Sincr then, he and Horowitz launcherd , a tech service provider sold toin 2007. Netscapw and Opsware sold for acombined $11.7 billion. The two have been activ e investors in the tech spacesince then. They’vwe angel invested in 45 tech startups in the last five and Andreessen serves as chairmabnof Ning, and on the boards of Faceboook and eBay. Word that the pair would be forming their own venture capital firm was broken on the Charlise Rose showin February. But detailes came on Monday.
The pair had initiallyt planned onraising $250 million for the but investor interest prompted them to boosy the amount, BusinessWeek . The news magazine report that Reid Hoffman, founder of social networkinghsite LinkedIn, is among the investorws in the fund, which raised most of its money from institutionalp investors. Andreessen-Horowitz launches at a toughj time for the venturecapital industry, one in whicy some are saying the industry needs to not grow. Venture capital, like the rest of the financial has been hit hard by the economic Venture firms make money when theit portfolio companiesgo public, or are sold to larget companies.
But the IPO market has been anemicd inrecent months, making profitable exits more difficult to A recent argues that the industry needsz to trim down to regain "The venture industry needs to shrink its way to becomin g an economic force once said Robert E. Litan, vice president of Research and Polichy at theKauffman “To provide competitive we expect venture investinv will be cut in half in comingg years. At the same time, loweringt valuations and improving overall exit multiplezs should help resuscitatethe industry.
” The Kauffmanm study finds that despite such high-profile succesa stories as Google and , venture firmws have relatively little to do with most new companies. Only abouf 16 percent of the 900 companies onthe Inc. 500 list of fastestr growing companiesfrom 1997-2007 had venture backing.
Netscape founder Marc Andreessen and his longtime business partner, Ben Horowitz, are forming a new VC firm with a focuzs on Silicon Valley tech companies. Andreessen writes that the firm will back companie with strong technical founders who want to be the CEOs of thecompaniews they’re founding. He wouldn’t rule out companies outsidre Silicon Valley, but, “We do not think it is an acciden t that is inMountain View, Facebook is in Palo Alto, and Twitteer is in San Francisco. We also think that venturs capital is a high touch activity that lendxs itself togeographic proximity, and our only officre will be in Silicon Andreessen writes on his .
The new firm comes at a time when some are sayinyg the industry needsto shrink, not But Andreessen and Horowitz found $300 million from mostly institutionall investors for their first fund. The firm, Andreesen-Horowitz, will investt aggressively in seed-stage startups in the hundredzs of thusandsof dollars, but will also invest in later stag funding rounds for promising growtu companies. Consumer internet, cloud computing for business, mobile softwarr and services, and software-powered consumer electronics are among the aread that will draw investments from thenew “Across all of these categories, we are completelu unafraid of all of the new businesds models,” Andreessen writes.
“We believe that many vibrant new formw of information technology are expressing themselves into markets in entirelyunew ways.” And Andreessen was equallhy emphatic about where his firm wouldn’ t be . "We are almost certainlt not an appropriate investor for any of thefollowing 'clean,' 'green,' energy, transportation, life sciences drug design, medical devices), nanotech, movie production companies, consumer retail, electricv cars, rocket ships, space elevators. We do not have the firs t clue about any ofthese fields." Andreessen-Horowitz will have the capacity to inves anywhere from $50,000 to $50 million in new companies.
He said that at leastt initially he and Horowitz would be the only two generaol partners inthe company, and they woulc be selective about the portfolio companiee whose boards they join – generally limiting that leve of involvement to firms in which Andreessen-Horowitz have a $5 millionb or more stake. Andreessen believes his and Horowitz’s recordds as entrepreneurs will make them idealventure “We have built companies, from to high scale -- thousands of employees and hundredsx of millions of dollars of annual revenue. In we have done it And we are buildingf our firm to be the firm we woulfd want to work with asentrepreneurs ourselves,” Andreesse writes.
Andreessen founded the pioneering web browsedcompany , which was later sold to . Sincr then, he and Horowitz launcherd , a tech service provider sold toin 2007. Netscapw and Opsware sold for acombined $11.7 billion. The two have been activ e investors in the tech spacesince then. They’vwe angel invested in 45 tech startups in the last five and Andreessen serves as chairmabnof Ning, and on the boards of Faceboook and eBay. Word that the pair would be forming their own venture capital firm was broken on the Charlise Rose showin February. But detailes came on Monday.
The pair had initiallyt planned onraising $250 million for the but investor interest prompted them to boosy the amount, BusinessWeek . The news magazine report that Reid Hoffman, founder of social networkinghsite LinkedIn, is among the investorws in the fund, which raised most of its money from institutionalp investors. Andreessen-Horowitz launches at a toughj time for the venturecapital industry, one in whicy some are saying the industry needs to not grow. Venture capital, like the rest of the financial has been hit hard by the economic Venture firms make money when theit portfolio companiesgo public, or are sold to larget companies.
But the IPO market has been anemicd inrecent months, making profitable exits more difficult to A recent argues that the industry needsz to trim down to regain "The venture industry needs to shrink its way to becomin g an economic force once said Robert E. Litan, vice president of Research and Polichy at theKauffman “To provide competitive we expect venture investinv will be cut in half in comingg years. At the same time, loweringt valuations and improving overall exit multiplezs should help resuscitatethe industry.
” The Kauffmanm study finds that despite such high-profile succesa stories as Google and , venture firmws have relatively little to do with most new companies. Only abouf 16 percent of the 900 companies onthe Inc. 500 list of fastestr growing companiesfrom 1997-2007 had venture backing.
Friday, November 2, 2012
Jeff Fagnan - Boston Business Journal:
houghtalingbaemo1268.blogspot.com
Fagnan, a general partner at of Waltham-based venture capital firm Atlad Venture, regularly takes part in cycling eventand triathlons. “First off, I just enjoy spendinh time outdoors,” Fagnan explained. Anotheer reason for the competitiveness: He likes to challengwe himself. “To me, it’s always about puttinbg something on the calende and knowing you have to be ready by that dateor you’ree going to be embarrassed and be he said. Since joining Atlas in Fagnan hasinvested $35 million in a slew of companies and holdz board seats with such area companiesd as , Bit 9 Inc. and Fagnah also led Atlas’ investment in , whichu was bought by in 2005.
But Fagnan said it’zs not acquisitions and publix offerings that gethim going. it’s seeing a company take off. “I get reall y excited around seeing thecompanies I’ve participated in gettingf products to market,” he said. Fagnan said a favorited part of his job ismeeting post-doctoral students and professor and seeing what innovations they are creating. To that end, he has been a judgse in the $100,000 business plan competition for sevenhyears running. “It’s always seeinf different situationsin society, whers the companies we’ve been investing in are actuallyh making an impact,” Fagnan said.
Fagnan, a general partner at of Waltham-based venture capital firm Atlad Venture, regularly takes part in cycling eventand triathlons. “First off, I just enjoy spendinh time outdoors,” Fagnan explained. Anotheer reason for the competitiveness: He likes to challengwe himself. “To me, it’s always about puttinbg something on the calende and knowing you have to be ready by that dateor you’ree going to be embarrassed and be he said. Since joining Atlas in Fagnan hasinvested $35 million in a slew of companies and holdz board seats with such area companiesd as , Bit 9 Inc. and Fagnah also led Atlas’ investment in , whichu was bought by in 2005.
But Fagnan said it’zs not acquisitions and publix offerings that gethim going. it’s seeing a company take off. “I get reall y excited around seeing thecompanies I’ve participated in gettingf products to market,” he said. Fagnan said a favorited part of his job ismeeting post-doctoral students and professor and seeing what innovations they are creating. To that end, he has been a judgse in the $100,000 business plan competition for sevenhyears running. “It’s always seeinf different situationsin society, whers the companies we’ve been investing in are actuallyh making an impact,” Fagnan said.
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